UWFB: Economic Foretelling

Back in 2007, the vast majority of economists did NOT see the two-trillion-dollar global financial crisis (GFC) coming. What was going on with their economic modelling? Is an economic model only as good as your ideology? What can we reasonably ask of an economist and their economic model? And if the economy is inherently unpredictable, what is the point of an economic model?Dr. Adam Kaczynski is our guide through this thorny thicket. After a detour through Polish central planning we emerge into the sunlight of emergent phenomena.orangefreesounds.comSound effects permitted for non-commercial use under license“Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)”Goblin's Dreamby Augustin Chttps://freemusicarchive.org/music/Augustin_C/Fantasy_Music/Goblins_DreamSong permitted for non-commercial use under license“Attribution-NonCommercial 4.0 International (CC BY-NC 4.0)”Theme music:St. Germain by Alice IvyOne in Ten by UB40