RBI Governor Urjit Patel says job of economists is not to predict crises
Reserve Bank governor Urjit Patel today defended economists saying their core mission is not to forecast crises but to explain how mankind behaves. It can be noted that economists badly criticised for the 2008 global financial crisis saying they had failed to predict the catastrophe on time
Urjit Patel said economists play a vital role in shaping public perceptions, discourses and in designing strategic policies in the corporate sector, central banks, governments and multilateral institutions, but go very often unsung. Image source: PTI