The Openness Elixir
25th June 2010
As David H. Freedman notes in “Wrong: Why Experts Keep Failing Us—And How to Know When Not to Trust Them,” such cluelessness is all too common in our expert-mediated world. Look at all those economists who failed to predict the great crash of 2008 or the rating agencies whose metrics melted into mere wishful thinking. Realtors, who are supposed to know more than you or I about the housing market, predicted housing prices would trend up for 2008. Experts, schmexperts.