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The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.

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#126 Planet Money: The Folly Of Economic Forecasts

December 8th, 2009

Episode 219 of 910 episodes

Russ Roberts, George Mason University economist and host of EconTalk, explains why he thinks is economics is an imperfect science. Roberts says he has come to believe it's impossible to predict future economic conditions because good data is so hard to come by and even harder to compare. So what about all his fellow economists who seem to have an opinion on almost any topic? Roberts says they should come out and tell the truth, that their policy recommendations are based on philosophy and ideology, not on empirical data.

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