They are never right with their forecasts. How many people actually believe in what they said? Macroeconomics is too vague to draw accurate conclusion, I was told once by a lecturer that no 2 economists will agree with each other.
I will give my votes to Micro economists over the Macroeconomists if I have to choose one since the macro is too complex to understand and predict. Unlike in the studies of economics whereby micro is more difficult to learn as compared to macro but when it comes to applications, these are opposite.
Anyway, I have yet come across an economist who can accurately forecast the GDP, but I do come across plenty of commentaries from them after events unfold. Will you trust a salesperson more than an economist?
Why were they here in the first place when they are way off target most of the time?
I don’t need bedtime stories from people who are telling me what I have already known.
In US, median salary of economists is around $72,780 with the top 10% earning more than $129,170 annually. Economic consultants with a Ph.D. had the overall highest median income for any group making $116,250, the median salaries for an assistant professor was $63,500, for an associate professor it lay at $67,000 and $85,000 for a full professor. The overall median income for doctorates in academia was $75,000 compared to $125,000 in consulting and $87,000 in banking.
Do you think they are overpaid?
What have they been advising the banks prior to the sub-prime crisis?
0 comments
Post a Comment