WHY I'M NOT AN ECONOMIST

THEY'RE DOOMED TO EXPLAIN THE UNEXPLAINABLE

The revealing thing about being locked in a room with six economists for a day isn't so much finding that you can stay awake as realizing how little they really know. As bash fodder, economists are right there with lawyers, politicians and stockbrokers. Economists predicted nine of the last five recessions, remember? Studies show they have less than a 50% success rate predicting whether interest rates will go up or down. That's dismal science, all right. But bashing isn't the goal here. When TIME's Board of Economists met with editors and writers last week, the panel was thoughtful, articulate, even passionate...

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