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All forecasts are wrong
Manage episode 507100982 series 3475482
Politicians and economists pretend forecasts are facts. But they’re not. They’re guesses – and running the economy on guesses guarantees failure. In this video, I explain why fiscal rules based on forecasts are absurd, why Rachel Reeves is already using them to justify austerity, and why we must plan on the basis of present needs, not imagined futures.
311 episodes
Manage episode 507100982 series 3475482
Politicians and economists pretend forecasts are facts. But they’re not. They’re guesses – and running the economy on guesses guarantees failure. In this video, I explain why fiscal rules based on forecasts are absurd, why Rachel Reeves is already using them to justify austerity, and why we must plan on the basis of present needs, not imagined futures.
311 episodes
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