Economists change views according to situation: Arun Jaitley

New Delhi, July 07 (ANI): Finance Minister Arun Jaitley took a dig at economists and market commentators, saying they change their stand according to the situation. Jaitley said that television commentators who speak authoritatively on market trends do not hesitate to change their stand the moment they see their predictions failing. He was speaking at a release of the book, ‘Hubris – Why Economists Failed to Predict the Crisis and How to avoid the Next One’ by British economist and writer, Meghnad Desai. Jaitley said that the commentators’ changing views were especially visible in the aftermath of the Greek referendum. Jaitley added that he was puzzled as to why economists ‘fail to predict crisis or events’. He also took a dig at economists predicting crude oil prices over the last few months. In ‘Hubris – Why Economists Failed to Predict the Crisis and How to avoid the Next One’, Meghnad Desai, a retired professor at the London School of Economics, tries to explain why economists failed to predict the global financial crisis of 2008.

Watch the Video below

Ventuno