Can We Finally Retire Scientific Superstition?

What an absolutely astounding admission former Fed boss Alan Greenspan makes about his new book The Map and The Territory: “Not a single major forecaster of note or institution caught it [the 2008 crash]. The Federal Reserve has got the most elaborate econometric model, which incorporates all the newfangled models of how the world works—and it missed it completely. I was actually flabbergasted. It upended my view of how the world worked.”

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