Aftermast is manifesting itself in the collapse in at export volumes. And it looks like those earlier predictions of in four per centloss g d p will prove pretty accurate. Am i think it was a bigger shock to economists in the u k than the financial crisis, actually. Most of us hadn't thought about it. But the profession thought a lot about brexet. There was a very strong consensus that the economic damage caused, and the voters said we don't care.
Mainstream economics, says author Diane Coyle, keeps treating people like cogs: self-interested, rational agents. But in the digital economy, we're less sophisticated consumer and more monster under the influece of social media. Listen as the economist and former UK Treasury advisor tells EconTalk host Russ Roberts how, for economics to remain relevant, it needs both more diverse methodologies and more engagement with the broader issues of the day.