In response to:

Don’t Trust Economists, Part II

FletchforFreedom Wrote: Jan 28, 2013 2:49 PM
Economist Thomas Sowell (and I) agree with you. The only suggestion I would make is that, for clarity, I typically refer to what is needed to protect the freedoms of individuals from the infringements of others as "law" and reserve the term "regulations" for the endless determinations of HOW individuals do things that are passed down via government edict. From that perspective, there is no need for "regulations" at all.

Back in 2010, I shared a remarkable graph comparing the predictions of economists to what actually happened.

Not surprisingly, the two lines don’t exactly overlap, which explains the old joke that economists have correctly predicted nine of the last five recessions.

It’s not that economists are totally useless. It’s just that they don’t do a very good job when they venture into the filed of macroeconomics, as

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