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Economists tend to think they are much, much smarter than historians, than everybody. And this is a bit too much because at the end of the day, we don't know very much in economics.

If all the economists in the world were laid end to end, it wouldn't be a bad thing.

Economists have allowed themselves to walk into a trap where we say we can forecast, but no serious economist thinks we can.

The good news is that economists are intelligent, engaging and often charming folks. The bad news is their work is often of little use to investors.

I don't think we should run government based on economists' predictions.

Economists often like startling theorems, results which seem to run counter to conventional wisdom.

We know from chaos theory that even if you had a perfect model of the world, you'd need infinite precision in order to predict future events. With sociopolitical or economic phenomena, we don't have anything like that.

Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right.

An economist's guess is liable to be as good as anybody else's.

When better business decisions are made, economists won't make them.