Discussion about this post

User's avatar
Overcoming Bias Commenter's avatar

Heh: "Economists were created to make weather forecasters look good."

- http://www.guardian.co.uk/m...

Expand full comment
Overcoming Bias Commenter's avatar

The answer is, of course, "Most and nearly all, but with timing questions." It was obvious that the housing market was an unsustainable bubble, driven by loans that depended on the bubble's being sustainable. The only surprise was that it lasted as long as it did before collapsing. The market can stay irrational longer than you can stay solvent.

If the majority of any developed country learns the basics of microeconomics, come back and make that post again. If you can get ten countries to enact no mercantilist policies for ten years, come back and make that post again. Heck, read The Myth of the Rational Voter by Bryan Caplan, take his list where the public is both ignorant and biased on 32/33 economic issues, fix one, then come back and make that post again.

Expand full comment
62 more comments...

No posts