Sounding off

摘要

Ben Hackett of Global Insight recommends ignoring economic prophets of doom regarding congestion, as the 'facts' are not all they might seem. Economists are known for putting three arguments forward when one would have sufficed, and often adding phrases such as 'all other things being equal' and 'given the fundamentals'. As we all know, not very much in our industry is ever equal, and no one has ever convincingly explained to me what the fundamentals are. As for the three arguments, that is known as hedging your bets.