On economics : an introduction to what is sometimes called 'the dismal science'- and why actuaries should care

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      <subfield code="a">On economics</subfield>
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      <subfield code="c">Carlos Fuentes, Shiraz Jetha</subfield>
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      <subfield code="a">The authors believe that economics plays an essential role in politics, public policy, private opinion, and the actuarial profession. Considered a science by many, economics is remarkable in that it is frequently invoked to justify almost any opinions, including those that contradict each other. Its forecasting track record, poor as it is, does not seem to raise basic questions about assumptions or methodology, and neither does the lack of explanatory power of many of its theories. Timothy Geithner, president of the Federal Reserve Bank of New York (20032009) and secretary of the Treasury (20092013), writes: One of my tasks was producing Treasury's quarterly forecasts for the Japanese economy. This was a useful education, mostly in making me skeptical of forecasting.</subfield>
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      <subfield code="t">Contingencies : American Academy of Actuaries</subfield>
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