> A large number of economists [...] all across the ideological spectrum [...] did see it happening.
In a strange way, that's almost step down: A strong correlation between what economists say and what happens -- even a negative correlation -- suggests that theory is somehow catching up to reality.
In contrast, a weaker correlation -- even if positive -- implies that there's still a lot more problems to shake out.
In a strange way, that's almost step down: A strong correlation between what economists say and what happens -- even a negative correlation -- suggests that theory is somehow catching up to reality.
In contrast, a weaker correlation -- even if positive -- implies that there's still a lot more problems to shake out.