Economists are the new astrologers

Source: Ludwig von Mises Institute
by Andrew Syrios

"When Christopher Nolan was promoting his previous film Interstellar, he made the casual observation that 'Take a field like economics for example. [Unlike physics] you have real material things and it can’t predict anything. It’s always wrong.' There is a lot more truth in that statement than most academic economists would like to admit. Alan Jay Levinovitz recently put forth the provocative argument that economics is 'The New Astrology.'" (08/29/17)