Economists proudly claim that humans act rationally in their own self interest. How can we trust them to promote theories that are best for society over theories that result in higher pay for themselves personally?
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
Thursday, May 23 | 10:30 AM ET
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Thursday, May 23 | 10:30 AM ET
Thursday, May 23 | 10:30 AM ET
Thursday, May 23 | 10:30 AM ET
Thursday, May 23 | 10:30 AM ET
Thursday, May 23 | 10:30 AM ET
- Parker: How Abortion Has Changed America
- Schlichter: Can Marco Rubio Save Marco Rubio From Himself?
- Ransom: The Dishonorable Liberal Order of Regulatory Scientists
- Bialosky: Now Obama Wants Your Pension
- Kieffer: BENGHAZIGATE: Obama’s Secret Gun-Running Program
- Barone: Benghazi Report Revives Troubling Questions
- Mitchell: To Punch a Liberal
- DeHaven: Rubio Blames GOP for Government Dependency
- Calculations: The Myth of Michelle Obama's "Food Desert"
- Mitchell: Canada Wants to Join the Government Stupidity Contest
Thursday, May 23 | 10:30 AM ET
- Parker: How Abortion Has Changed America
- Schlichter: Can Marco Rubio Save Marco Rubio From Himself?
- Ransom: The Dishonorable Liberal Order of Regulatory Scientists
- Bialosky: Now Obama Wants Your Pension
- Kieffer: BENGHAZIGATE: Obama’s Secret Gun-Running Program
- Barone: Benghazi Report Revives Troubling Questions
- Mitchell: To Punch a Liberal
- DeHaven: Rubio Blames GOP for Government Dependency
- Calculations: The Myth of Michelle Obama's "Food Desert"
- Mitchell: Canada Wants to Join the Government Stupidity Contest
Thursday, May 23 | 10:30 AM ET
- Parker: How Abortion Has Changed America
- Ransom: Liberals Suck at Math and Eyeballs
- Schlichter: Can Marco Rubio Save Marco Rubio From Himself?
- Ransom: The Dishonorable Liberal Order of Regulatory Scientists
- Giles: Jihad On Our Tax Dollars? Screw That.
- Bialosky: Now Obama Wants Your Pension
- Hunter: Creating Monsters: Terrorism, Welfare and “Celebrating Diversity”
- Beauprez: All that Ammo
- Kieffer: BENGHAZIGATE: Obama’s Secret Gun-Running Program
- Barone: Benghazi Report Revives Troubling Questions
Thursday, May 23 | 10:30 AM ET
- Parker: How Abortion Has Changed America
- Schlichter: Can Marco Rubio Save Marco Rubio From Himself?
- Ransom: The Dishonorable Liberal Order of Regulatory Scientists
- Bialosky: Now Obama Wants Your Pension
- Kieffer: BENGHAZIGATE: Obama’s Secret Gun-Running Program
- Barone: Benghazi Report Revives Troubling Questions
- Mitchell: To Punch a Liberal
- DeHaven: Rubio Blames GOP for Government Dependency
- Calculations: The Myth of Michelle Obama's "Food Desert"
- Mitchell: Canada Wants to Join the Government Stupidity Contest
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Ignorant people often act irrationally and against their own interests ... as the relection of Obama demonstrates.