They certainly can, but they don’t have to. The problem is the experts who are slow, or unwilling to change their theories and ideas, even as real world events expose those theories as incomplete, at best.
Many mainstream economics experts did not see the great recession coming. They were blindsided by it. Did those experts humble themselves and try to figure out how they had such a significant blind spot? No, most did not. Most just wrote it off as an anomaly and doubled down on their theories. This was a massive mistake, because the great recession was a major contributor to the US becoming the politically chaotic country it is today. Being a good governor, and being good at winning elections, are both served by officials and experts who are willing to admit when they are wrong and make the necessary changes.
They certainly can, but they don’t have to. The problem is the experts who are slow, or unwilling to change their theories and ideas, even as real world events expose those theories as incomplete, at best.
Many mainstream economics experts did not see the great recession coming. They were blindsided by it. Did those experts humble themselves and try to figure out how they had such a significant blind spot? No, most did not. Most just wrote it off as an anomaly and doubled down on their theories. This was a massive mistake, because the great recession was a major contributor to the US becoming the politically chaotic country it is today. Being a good governor, and being good at winning elections, are both served by officials and experts who are willing to admit when they are wrong and make the necessary changes.