Critics often cite economic projections as inaccurate and unavailing for business operations.
This criticism is so pervasive that economists themselves have come to evaluate their own performance by the degree to which specific predictions match actual results. This fixation with the accuracy of economic predictions reflects the prominence of short term results over long term development. The situation in international commerce and finance reflects many of the same characteristics. Many in the field tend to view international operations and the world market as abstractions. Even those who normally function in a global environment perceive it through the filter of electronic media, continuously updated and flashed upon a screen terminal.