[batista]

>but the majority of economists make a living on the fact that the market is not efficient.

Actually they make a killing on the fact that their are interests and money to be made based on their BS advice and predictions.

[wisty]

Economists rarely make predictions. Predicting stuff is hard.

I think it was the RBA (or maybe the Australian Treasury) which admitted that their DSGE model was no more accurate than trend modelling in terms of it's predictive power, so they could only use it to give policy advice.

[batista]

>Economists rarely make predictions. Predicting stuff is hard.

Oh, they do it all the time, to give "policy advice".