Are Economists Too Pessimistic?
Economics Explained
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The Value of Warning Signs
Most warning signs in the world have never saved anyone's life, but that doesn't mean that they don't have value. If an economist gives a warning, then the recipient of that warning can potentially tweak their plans to minimize the harm or eliminate the danger altogether. In this instance, we made a warning about new paid parking herding small business. But the final implemented system actually made parks more readily available for restaurant patrons,. which in turn boosted local business activity. On the surface, our warning looked to be a false alarm. In reality, it was potentially instrumental in saving a couple dozen small businesses. And if you were to fully act on every warning made by every economist ever, you would
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