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Noah Smith — Economists Lose Credibility When They’re Too Certain

Summary:
They made this mistake by claiming free trade had no downsides. I wouldn't say it is just free trade.  This is what happens when ideology trumps scientific rigor, and scientific credibility is used to push a political agenda. Economists appear to fall into this trap often enough to have destroyed their public credibility. It's another form off fake news.  As Noah Smith points out, they know better, but do it anyway. Now they and we, are reaping the whirlwind of rabid populism as the working class bites back. Bloomberg ViewEconomists Lose Credibility When They're Too Certain Noah Smith

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They made this mistake by claiming free trade had no downsides.
I wouldn't say it is just free trade. 

This is what happens when ideology trumps scientific rigor, and scientific credibility is used to push a political agenda.

Economists appear to fall into this trap often enough to have destroyed their public credibility. It's another form off fake news. 

As Noah Smith points out, they know better, but do it anyway. Now they and we, are reaping the whirlwind of rabid populism as the working class bites back.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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