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A theory is appropriate as long as it fits into the fact; when a theory doesn't fit in the fact, it's wise to walk with the fact.

Wednesday, August 10, 2011

Confused Economists

Well, just a few days back, I have posted an interview of Professor Taslim, where he explained why he thinks that the Bangladesh economy will be affected due to the current economic turmoil.

In today's Daily Star, a report says that economists (Mr. Ahsan Mansur, Executive Director, PRI and Mr. Zaid Bakht, Research Director, BIDS) do not see any big impact on Bangladesh exports for a volatile economic situation in the western world. Interestingly, real exporters are not that much hopeful like those economists. Here is the report link from the Daily Star. 

In today's Financial Express, economist Mr. Zaidi Sattar, Chairman, PRI says that -

'A double-dip US recession can not only halt the global recovery but potentially push the global economy back into recession. That would effectively undermine Bangladesh’s export performance, and cause remittances to dry up as well. With trade and remittance volumes approaching 50% of Bangladesh’s GDP, the adverse impact on growth, employment and poverty, is all but certain.'

Here is the column link from the Financial Express. 

Who is right and who is wrong?

So, economists need more preparation as well as coordination when making comments on serious issues.


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