Journal Article

The importance of structure in decisionmaking


Abstract: Should the economics profession be judged on its ability to predict the economy's twists and turns? Not according to Cleveland Federal Reserve Bank President Jerry L. Jordan, who argues that an economist's real contribution lies not in eliminating the uncertainties of the marketplace, but in providing a proper framework for discussing and evaluating those uncertainties.

Keywords: Economists; Forecasting; Economic policy;

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Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 1992

Issue: Nov

Order Number: 1