Year of Transformation

In fact, no one person or institution has understood the economy well this past year. Economic projections are made with the assumption that the Covid-19 pandemic can be overcome.

KOMPAS/FAJAR RAMADHAN

A Prasetyantoko.

“The only function of economic forecasting is to make astrology look respectable.” That is a quote from the leading economist JK Galbraith to make fun of his own profession.

Economists are those whose predictions and ignorance of the future can be explained scientifically and in a complicated way. This scorn, however, does not dampen public enthusiasm for economic forecasts.