prediction

Economics has been long striving to predict our behaviors. Unlike natural science, social science deals with far more noise. There’s always noise and error present, not only from the technical errors that come from sampling and other sources, but also from the inherent inconsistencies and occational irrationality of people. This is perhaps why we need an economist, to predict the future that is created by the aggregate of these unpredictability, in order to better prepare ourselves for the uncertainties....