Economists now fill the role of oracles and shamans

A WHILE back, I suggested that one reason economists get more respect than sociologists is that they have a better command of statistics and other technical skills. But I think there's also another reason the public is obsessed with economists. It's because economists, like the shamans and oracles of yore, offer people the hope of understanding the mysterious titanic forces that shape our lives. I'm talking, of course, about Macro.

When I say "Macro" with a capital "M", I mean all of the powerful and unpredictable economic forces that buffet …