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by mike_hearn
11 days ago
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Business investment did not flatten after the referendum. Nothing happened after the referendum and the economy continued to grow, with unemployment falling to record lows. Compare vs the prediction by guys like Portes, the author of the essay: "In the short term, we expect that a vote to leave would result in a significant economic downturn, with unemployment rising by up to 1.7 per cent" https://journals.sagepub.com/doi/10.1177/002795011623600101 People like the author have no credibility. When they say things like, "Most serious estimates now suggest that UK GDP is several percentage points below where it would otherwise have been" they don't address the fact that "serious" people previously made many failed predictions. Like always in academia, continuous failure is not considered disqualifying for the job. |
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