Commentary: Economics isn't unreliable, we are

The financial crises of the last two decades, and our failure to predict them, have wreaked havoc on more than just the global economy. The bursting of the dot-com bubble in 2000, the Enron scandal and the global financial crisis of 2008 have led to a loss of faith in economics itself.

But these crises and scandals do not mean that the science of economics is inherently unreliable. Most of them occurred because we ignored what we knew.

Perhaps most obviously, we deputized - and continue to deputize