Forecasting, Forecrusting?

There is no more practical thing than a good theory. Furthermore, the strong predictive power of such theory – as Milton Friedman (1953) argued[i] – is a necessary precondition to consider the given theory as an instructive one. A non-negligible proportion of prominent economists argue that forecasting is the raison d’être of the science of economics. When it comes to forecasting, we enter the sphere of not bei
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