It must follow some ironclad laws of the physical universe then, mustn't it? But somehow we always end up asking the same question: Why Are Economists Always Wrong?

TRANSCRIPT

Quick. When I say the word "economist," what comes to mind? Fearless truth-teller? Sage wise man? Someone whose deep understanding of the complex web of billions upon billions of daily interactions in the sphere of human activity enables them to predict the outcome of those interactions years in advance with near certainty?…Or do you think of Paul Krugman?

Be honest now. It's Krugman, isn't it?

That's not just embarrassing, it's perplexing. Economics is a science, right? It must follow some ironclad laws of the physical universe then, mustn't it? But somehow we always end up asking the same question: Why Are Economists Always Wrong?