It turns out that the historical data is more like a Rorschach test. One economist can look at the data and see a bunny rabbit while another sees a giraffe. You and I haven’t studied the raw data ourselves, and we probably aren’t qualified anyway, so we are forced to make our decisions based on the credibility of economists. And seriously, who has less credibility than economists? Chiropractors and astrologists come close.
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