Interesting pespective at the end of the podcast. Would an economist rather error on the side of saying there would be a recession or error on the side that there would not be a recession because we have strong demand for airline tickets and the overall supply system is improving. It appeared to be safer to say there would be a recession and if you are wrong then you won't look as bad if you predict there would not be a recession. Untill today, never thought of economics as political. Just thought economist look at the data and make a decision (right or wrong) based on their insight and facts at hand.
Interesting pespective at the end of the podcast. Would an economist rather error on the side of saying there would be a recession or error on the side that there would not be a recession because we have strong demand for airline tickets and the overall supply system is improving. It appeared to be safer to say there would be a recession and if you are wrong then you won't look as bad if you predict there would not be a recession. Untill today, never thought of economics as political. Just thought economist look at the data and make a decision (right or wrong) based on their insight and facts at hand.
Virtually all the economists who speak publicly are politicians in drag.