What economists can learn from engineers | Letters
This week there is much unenlightening squabbling about economic forecasts. In 1971 I arrived at university intending to read engineering and economics. After two weeks I swapped to pure engineering because I had realised that there was no “right answer” in economics. I have spent my life developing mathematical models of physical systems and making “engineering forecasts” or predictions, as engineers call them. Now, older and wiser, I realise that there is no right answe
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