Philippine E-Journals

Of Economic Bubbles and Economic Miracles: Notes and Reflections from a Non-Expert

Dennis V. Blanco

Discipline: Business

 

Abstract:

Economy is a subject matter and topical affair that is difficult to predict and not easy to understand. The set of complex variables involve in the analysis and the volatility of the market would seem to suggest that economic soothsayer and prophets face an uphill climb for validation of their forecast. Because more than affirmation of an economic forecast, economic contradictions would likely surface to pose as challenges to such economic analysis and review in the future. Therefore, the future must remain uncertain. Predicting the economy as a whole is fraught with additional dangers and complications, and all leading indicators of economy wide change do not have or eventually lose the capacity to predict the future accurately (Thornton, 2004).