Somewhat apropos of yesterday’s entry in the perennial “what’s science?” discussion comes this graph from Innocent Bystanders. The graph is originally from a report put out in January by the government’s Council of Economic Advisers and the (then) Office of the Vice President-Elect, projecting the level of unemployment with and without the proposed stimulus. The stimulus was duly passed.
Innocent Bystanders plonked down two data points on top of it in Photoshop: the actual unemployment figures that have since resulted. The result:
I’m told economics is the dismal science. I’ll grant that it’s dismal.