Phrase by 'Tim Harford'
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Economists have allowed themselves to walk into a trap where we say we can forecast, but no serious economist thinks we can. You don't expect dentists to be able to forecast how many teeth you'll have when you're 80. You expect them to give good advice and fix problems.
Author: Tim Harford - English EconomistYou , Good , Problems , Walk
I don't think Brian Cox does 'The Wonders of the Solar System' because he believes the world would be a better place if people understood about the rings of Saturn; I just think he finds physics extremely interesting. It brings him joy, and he wants to spread the love. I feel the same about economics.
Author: Tim Harford - English EconomistLove , People , Feel , World
Failure's inevitable. It happens all the time in a complex economy. And how did the economy produce all these amazing things that we have around us, computers and cell phones and so on? Well, the process was trial and error. There were a bunch of ideas, and the good ones grew and prospered, and the bad ones were pretty ruthlessly weeded out.
Author: Tim Harford - English EconomistTime , Good , Failure , Computers
How did the economy produce all these amazing things that we have around us - computers and cell phones and so on? There were a bunch of ideas, and the good ones grew and prospered. And the bad ones were pretty ruthlessly weeded out.
Author: Tim Harford - English EconomistIdeas , Good , Amazing , Computers
Failure is inevitable; it happens all the time in a complex economy.
Author: Tim Harford - English EconomistTime , Inevitable , Happens , Failure
If the whole process of learning from failure means discarding stuff that's not working, but in fact, our natural reaction is to keep going, to throw more money behind it, to throw more emotional energy behind it... that's a real problem.
Author: Tim Harford - English EconomistMoney , Failure , Learning , Keep Going
Our society is intertwined with the economy that we've built, which is a fantastically complex system. I hope that my writing about it might do some good, but that's not why I do it.
Author: Tim Harford - English EconomistWriting , Good , Society , Hope
I think the association of economics with forecasting is unfortunate and is down to the fact that one great way to get an investment bank's name on business television is to hire a guy called a Chief Economist who will go and prognosticate.
Author: Tim Harford - English EconomistName , Great , Business , Down
I never understand why 'economist makes forecast' is ever a headline. Whether the economist in question is from the International Monetary Fund, a City forecasting group or the Treasury - a forecast is still not news.
Author: Tim Harford - English EconomistNever , Understand , City , Group
Bill Phillips was this nervous, chain-smoking student. He had signed up to be an engineer, he had gone away to fight in the Second World War, he had come back. He had switched to sociology because he wanted to understand how people could do these terrible things to each other. And he did a little bit of economics on the side.
Author: Tim Harford - English EconomistPeople , World , War , Fight
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