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When economists ignore the human factor, we all pay the price
Garton Ash, Timothy http://www.theguardian.com/commentisfree/2016/feb/05/economics-global-crash-human-behaviour
Publisher: The Guardian
Date Written: 05/02/2016
Year Published: 2016
Resource Type: Article
The Guardian recently asked nine economists whether we’re heading for another global financial crash and they gave many different answers. Yet still we turn to economists as if they were physicists, armed with scientific predictions about the behaviour of the body economic. We consumers of economics, and economists themselves, need to be more realistic about what economics can do. More modesty on both the supply and the demand side of economics will produce better results.
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