Wednesday, October 23, 2013

How to Evaluate Economic Opinions



When you listen to economic opinions find out what the politics of the economists are before taking their advice.

Political slants color their opinions. Economics is not a true science, so comments can diverge along those lines.

Look into track records; many of those lauded by the media have been consistently wrong for decades or merely misinterpreted. John Maynard Keynes opinion is an example.

Also, do not be impressed by awards, especially Nobel prizes, as some have been awarded primarily on the basis of politics.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

No comments:

Post a Comment