One more blog post on economics. This time taking apart economic predictions about Italy:
“What can we learn from these numbers? The crisis has shown how wrong the assumptions and relationships at the core of mainstream economics were. They were at the root of economic policies that have proven to be disastrous. But the same assumptions and relationships are incorporated in the models used by the international organizations to make their estimates on the future.”
Read the whole article in Social Europe Journal here: Why Do Economic Forecasters Get It Wrong?.