Copper-bottomed economics

The world economy is doing strange things, and economists who remain in love with their own worldviews are dangerous characters, writes David McWilliams.

27th April, 2013
Bond investors clearly have a different view of what's coming down the road than equity investors.

For the economist, one of the most dangerous urges is to fall in love with our forecast. That is to say, to become so wedded to our own world view that we are blind to the changes evident all around us and the effect we could have on our own preconceived notions about how the world works.

Economists like to think we can make a decent stab at forecasting what is coming down the track....

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