Economists know nothing.
Here's something aobut it on BBC website yesterday:
66 That debate is meaningless because the last five years of economic prediction have told us one thing: No one knows anything any more and the people who say they know something know even less.99
Also: No-one predicted the worldwide recession (even though who apparently did like VInce fucking Cable didn't).
The 20 economists that backed Obsorne's austerity programme have all pulled out as it turns out it's not working. THe IMF have changed their view, as have the OBR.
I was taught - in business textbooks and by economics teachers - in school in the late 90s "the age of boom and bust is over" and what followed was a massive boom then a massive bust (uhuhuh).
Leading economists - Professors in their trade - argue in Newsnight about economic policies. If leaders in the field can't agree, they can't foresee the crashes or even make up their mind on austerity, then surely they know nothing?