1.
Ask five economists and you'll get five different answers - six if one went to Harvard.
Edgar Fiedler
2.
If you have to forecast, forecast often.
Edgar Fiedler
3.
For economist the real world is often a special case.
Edgar Fiedler
4.
The herd instinct among forecasters makes sheep look like independent thinkers.
Edgar Fiedler
5.
When you know absolutely nothing about the topic, make your forecast by asking a carefully selected probability sample of 300 others who don't know the answer either.
Edgar Fiedler
6.
Economists state their GNP growth projections to the nearest tenth of a percentage point to prove they have a sense of humor.
Edgar Fiedler
7.
Forecasters tend to learn less and less about more and more, until in the end they know nothing about everything.
Edgar Fiedler