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John Authers

Trade Deals Are Less Important Than Easy Money

What really matters for markets these days are dovish central bankers and China’s economy. Also, what a new book says about frontier markets.

Economists take a lot of abuse from scientists.

Economists take a lot of abuse from scientists.

Photographer: Keystone/Hulton Archive

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Economists take a lot of abuse. As a social science, economics is far less precise than a “real” science such as physics or chemistry. Physicists can build huge and complex models that can be proven to work. Economic models collapse on their first contact with actual life. But economists operate at a disadvantage.