Why We Love/Hate Economists

Brad Delong has a debate:

Agathon: And when do your models predict the dollar will fall?

Kapelikos: 2003.

Agathon: Three years ago?

Kapelikos: Yep.

Agathon: But as long as people believe the argument on the other side, the dollar doesn't decline, and the argument looks correct?

Kapelikos: Yep--for one more year.

Agathon: How many more yars are you going to be saying, "Wait just one more year"?

Kapelikos: Until I can say, "I told you so."