Please create an account to participate in the Slashdot moderation system

 



Forgot your password?
typodupeerror
Note: You can take 10% off all Slashdot Deals with coupon code "slashdot10off." ×
Australia

Submission + - Economists predictions no better than flipping a coin->

ras writes: "The Reserve Bank of Australia did some investigation into the accuracy of their economic predictions — the ones they use to run the country:

70 per cent of the RBA's forecasts for underlying inflation for the year ahead were close to the mark, but its predictions of economic growth were less accurate, and its unemployment rate estimates no better than [chance] ... The Reserve Bank employs numbers of people on very high pay and what they're admitting now is that their — all of this so-called science — has produced nothing more than what a roll of the dice could produce."

"

Link to Original Source
This discussion was created for logged-in users only, but now has been archived. No new comments can be posted.

Economists predictions no better than flipping a coin

Comments Filter:

"Floggings will continue until morale improves." -- anonymous flyer being distributed at Exxon USA

Working...