In response to:

Don’t Trust Economists, Part II

Macroman Wrote: Jan 28, 2013 7:18 AM
This is a strange article. It's title says we should not trust economists. Its evidence is a man who pretended to be an economist but was not. There's plenty to criticize in the practice of economics, especially macroeconomics, without wasting time on irrelevant frauds.

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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