Dead Man Flying: Would this group of profoundly incompetent economists...
They are not incompetent. They are as highly competent applying Keynesian economic "theory" as astrologers, alchemists and fortune tellers are competent applying their highly sophisticated "sciences".
also include Alan Greenspan, whom you're very fond of quoting to support your position on the gold standard?
I have no position on "gold standard". Gold is just an example he used and a commodity historically commonly used as money. I am a proponent of a market-generated monetary system. Personally, I would use commodity money - maybe even the same gold. I have a pretty good idea what would emerge as free-market money based on historical experience but I would not presume to tell anyone what kind of money suits them.
Saying that someone is for gold (or any other standard) vs. fiat money is like saying he is for green uniforms against nazi's black ones.
It's not an issue of external attribites but oppression and choice. nazism and government mandated monetary system (even the gold standard) stand for oppression. Liberty and free market money stand for ... er.. liberty.
As for Greenspan, he is not engaged in economic discussions - ever. And when he ventures economic opinions - like calling the stockmarket bubble - nobody listens to him.
He is manipulating the monetary system and most likely doing that completely aware of the sound economic theory and all the implications.
Government-run monetary system is bad but there is no chance that US would have reverted to the free market, so it may as well be Greenspan that manipulates it. At least he can use the right theory to gauge the results of government intervention.
I'm curious why the Economist doesn't attempt to make predictions of its own based on the questions it asks the economists.
Let me guess, you do not read Economist. It's a magazine on economics. Most of what it prints is predictions and suggestions. Not that they are always based on the right science. Maybe just a bit more sound than the common one. They are closes to the London School of Economics and Chicago School (monetarists) than Austian but at least not prediminantly Keynsians.
They are more correct in the issues of trade and investment that monetary matters.
but beyond some sarcastic attempt to belittle the predictive abilities of prominent economists, I see precious little more foresight in the passages you've quoted.
This was an attempt of humor on their part. You can read all their issues on the same website.
Where are your predictions, miko? I'm sure you posted them here, and I just missed them.
I've posted predictions to the degree to which the sound economic science claims the predictions can be made in social sciences.
miko