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How Mainstream Economics Misleads the Public

Earlier this week, I wrote a piece about how Bernie Sanders' economic policies have come under criticism by a number of progressive economists for their unrealistic math, While it remains true that Sanders’ policies are mostly indefensible can’t possibly work, David Dayen at the New Republic, in his response to the criticisms, actually makes a very good point about economic forecasting. He writes “What I do want to challenge is the idea that there’s one serious, evidence-based way to perform economic forecasting. The truth is that most economic forecasts that look several years into the future are flawed, almost by definition.”