Political incentives of forecast-makers rather than fundamental intellectual failure of the economics discipline explain why many economists missed the 2021 inflation forecast that Summers got right
causalpending
Speaker
Larry SummersEvidence Quote
“I think it probably has more to do with the political incentives of people making forecasts than it does some fundamental intellectual failure of uh the discipline.”
Source
Tariffs, Decline, and the Promise of AI | A Conversation with Larry Summers and Niall Ferguson— University of Austin (UATX)Created: 8/11/2026, 6:52:24 AM
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