Publish at April 02 2025 Updated April 02 2025
2008: one of the world's biggest economic crises arrives. The world's economists missed the collapse of the US housing market, which had repercussions for the entire planet. The result: since then, these specialists have been singled out for their disastrous forecasts. But is it really their fault?
It's important to understand that economic prediction does not include all economists, but only those interested in analyzing past and future situations. Especially since not all economists agree on the economic vision. At its inception, some started working with equations, while others said they should not be used at all costs. Economic turf wars are commonplace, and will play out over prognostications and suggestions for solving future problems.
In fact, economic forecasts cannot pinpoint potential crises in detail. It is possible to paint a certain picture of things to come, but these can be totally thwarted by unpredictable events such as a pandemic, conflict, climate change or an unpredictable American president.
Running time: 10min17
Image: Mohamed Hassan from Pixabay
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