http://www.climatenewsnetwork.net/2014/ ... nomists-0/
London, 14 March – The study, by the New Economics Foundation (NEF), a UK based independent think-tank, examines the accuracy and precision of projections made by both climate scientists and economists over the past 20 years.
First, the economists. The study looked at measures commonly used in long term UK government economic modelling and decision making, using 1995 as a baseline: the population forecast for England and the forecast for the UK Treasury’s debt to Gross Domestic Product (GDP) ratio.
In the US, the forecasts on oil prices over the period made by the US Energy Information Administration (EIA) were also examined.
The NEF finds the economists’ projections both inaccurate and imprecise in all three areas. The economists saw the population of England growing at a fairly modest level from 1995 to the present – from around 49 million 20 years ago to 51.5 million now.