Chapter
The Trouble with Economics
05:34 - 11:46 (06:11)
The accuracy of economic predictions is debated as economists attempt to analyze and solve economic puzzles, but differing opinions among experts suggest that the field may not have a definite grasp on certain aspects of the economy.
Clips
The article "The New Astrology" draws parallels between economists and astrologers, pointing out that economic forecasting can be unreliable, leading to misguided policies.
05:34 - 09:06 (03:31)
Economics
Summary
The article "The New Astrology" draws parallels between economists and astrologers, pointing out that economic forecasting can be unreliable, leading to misguided policies.
ChapterThe Trouble with Economics
EpisodeSelects: What's the misery index?
PodcastStuff You Should Know
Economists analyze historical data to find the correlation between unemployment rates and gross domestic product (GDP).
09:06 - 11:46 (02:39)
Economics
Summary
Economists analyze historical data to find the correlation between unemployment rates and gross domestic product (GDP). They have discovered that for every percentage point that unemployment falls between 3 and 7.5%, GDP rises by 3%.