A Simple Explanation for the Failure of the Economists
Are economists corrupt, nostalgic, irrational, group-thinkers, and more? Maybe. They are, after all, human beings.
But here is a simpler offering for their inability to explain the past (let alone to accurately predict the future): 1) they aren’t nearly so smart as they thought and 2) the world is more complex than they imagined.
A generally worthwhile intellectual shortcut: don’t attribute to conspiracy that which can be more easily attributed to ineptness and/or ignorance.