How ‘black swan’ events are ruining economic predictions
Economic predictions can be incredibly important for companies and governments trying to plan for the months and year ahead – and that ripples down to individuals trying to budget as well. But some experts worry that the forecasts are becoming less and less accurate. Todd Hirsch has been an economist for around three decades. Today, he tells us why forecasts aren’t working as well as they used to, how so-called ‘black swan’ events are changing things, and what that means for our ability to plan for the future.
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Show Notes
Economic predictions can be incredibly important for companies and governments trying to plan for the months and year ahead – and that ripples down to individuals trying to budget as well. But some experts worry that the forecasts are becoming less and less accurate.
Todd Hirsch has been an economist for around three decades. Today, he tells us why forecasts aren’t working as well as they used to, how so-called ‘black swan’ events are changing things, and what that means for our ability to plan for the future.
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