Why most economists’ predictions are wrong

In the continuation of my reading of old Red Herring magazines, here is a very interesting article from June 1998. It is even funny in its wise comments and surprising mistakes. But first read what he says about the difficulty in predicting. It reminds me an old post on Peter Thiel, Technology = Salvation.

Yes sometimes, “The truth is that we live in an age not of extraordinary progress but of technological disappointment. And that’s why the future is not what it used to be.”

But then what about his predictions and in particular the ones I marked in red…

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