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| Author: | Bernstein, P. |
| Title: | What prompts paradigm shifts? |
| Journal: | Financial Analysts' Journal
1996 : NOV-DEC, VOL. 52:6, p. 7-13 |
| Index terms: | FINANCE ECONOMICS FORECASTING |
| Language: | eng |
| Abstract: | Unexpected paradigm shifts are a congenital disease of our economic system. When major business decisions are irreversible and financial markets are forward looking, forecasting is essential. Nevertheless, the future remains hidden. Forecast errors, in both the public and the private sectors, are the raw material from which paradigm shifts are fashioned. The title question is an important one because many people believe that paradigm shifts would be predictable if we understood what causes them. |
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