Question #149304. Asked by
psnz.
Last updated May 06 2023.
Originally posted May 05 2023 10:31 PM.
Ezra Solomon (1920-2002) was a professor of economics at Stanford University. As a member of the President Nixon's Council of Economic Advisors (1971-1973), Solomon contributed to the change in monetary policy that saw the United States end the gold standard of U.S. currency. By at least 1985, Solomon was credited with this quote: "The only function of economic forecasting is to make astrology look respectable." By the 2000s, however, the quote was misattributed to economist John Kenneth Galbraith (1908-2006).
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