Economists Make Astrologers Look Good: Why They Failed To Predict The Great Recession
Laws that Permit the Transfer of Wealth and Power
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Let us return to your title and your allusion. The allusion first:

“The only function of economic forecasting is to make astrology look respectable.”

Bitter, biting, brilliant… however one want to describe it one sees immediately that it is quite different to:

Economists Make Astrologers Look Good: Why They Failed To Predict The Great Recession

No longer economic forecasting but now economists. Your article is exemplary of the main reason economists failed to predict the great recession: people have taken a discipline and decided that predicting such things is what it is meant to do. That is not the case. Not for microeconomists. Not for macroeconomists in general. For some, yes, they ought to be able to do so, but always remember that the only reason why physics has advanced to the point it has is because its crutch, maths, has kept up. People are much more complicated than particles.

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