These press articles (and maybe even the underlying Economic studies) are just nonsense. E.g., Ireland used to be the magic model for all of Europe with huge GDP growth, now they are completely broke. Same for the Baltic states to a lesser degree.
One year, it's all fairy dust and unicorns, the next year doom and gloom. Seen from some distance, this sounds a lot like people who have no clue at all making long term predictions based only on what they see right now.
Which again confirms my suspicion that Economy as a science at least on that level doesn't hold much water. The predictions might as well be random.
No real scientiest talk like these press articles.
Economic models can only simulate a few variables. Unfortunately economic development depends on almost infinate number of variables.
One year, it's all fairy dust and unicorns, the next year doom and gloom. Seen from some distance, this sounds a lot like people who have no clue at all making long term predictions based only on what they see right now.
Which again confirms my suspicion that Economy as a science at least on that level doesn't hold much water. The predictions might as well be random.