Are economists the new astrologers?

A controversial article has been circulating through the financial news for the past year or so that equates economists with astrologers because, its author argues, both are pseudosciences.  Ironically, the argument given is that economists were not able to predict the 2008 economic crash:

The failure of the field to predict the 2008 crisis has … been well-documented. In 2003, for example, only five years before the Great Recession, the Nobel Laureate Robert E Lucas Jr told the American Economic Association that ‘macroeconomics […] has succeeded: its central problem of depression prevention has been solved’.

The irony is that astrologers DID predict the 2008 crisis, and were not surprised when it occurred.  Unfortunately though, while astrology can reveal the general climate of what the future may bring, there is no way to predict specific events either in our personal lives or in a global economy. Since the 2008 crisis both economists AND astrologers have predicted a correction, or a crash – yet the global economic condition continues to expand.

I like this quote from Paul Krugman in the article cited above:

‘As I see it,’ he wrote, ‘the economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.’ Krugman named economists’ ‘desire… to show off their mathematical prowess’ as the ‘central cause of the profession’s failure’.

Math is an abstraction, but can it be used to predict human behavior?  I think astrologers often make the same mistake.  We have these marvelous symbols, “beauty, clad in impressive-looking mathematics,”  and now an abundance of ancient techniques to predict the future.  And yes, a few times those techniques for prediction have succeeded – but so will flipping a coin 50% of the time.

When astrology […]

Share this article...
By |2018-09-03T09:41:10-04:00September 3rd, 2018|Money and markets, Predictions|0 Comments

Revisited: China, the Face of Pluto in Capricorn

Nearly two years ago, when Pluto had first entered Capricorn, I wrote this post about the new balance of world power which will likely see China at its head:

Remember that Pluto rules over breakdown and destruction, followed by transformation. The elevation of Ceres to planet status has coincided with the eruption into mass consciousness of an acceptance (finally!!) of the need to protect the planet’s resources. Capricorn is concerned with matters of business, factories, governments, anywhere things are made and commerce is conducted. The emergence of China as a world power, without the democracy that helps to put safeguards in place, is likely to be the focal point of the Pluto in Capricorn period. Already we are seeing the emergence of a deadly “people’s revolution” to protest the devastation of the environment there that is likely to come to a head with the upcoming square of Uranus in Aries to Pluto in Capricorn.

Pluto is just finishing a square to the Midheaven in the (Sibley) chart of the United States, signifying a death and transformation in the position of the United States relative to the rest of the world.  In addition, Mars in the US progressed chart recently turned retrograde and there is more of a sense of looking back and repairing past errors than moving forward into new frontiers.

Now comes this interview with George Soros in the Financial Times, echoing what astrologers have been saying since Pluto entered Capricorn and […]
Share this article...
By |2009-10-29T10:20:06-04:00October 29th, 2009|Money and markets|Comments Off on Revisited: China, the Face of Pluto in Capricorn
Go to Top