Thanks, I appreciate that.
Thank you for being here this morning. We have spoken extensively about your economic forecasts. These discussions call to mind a renowned economist who is now deceased, Mr. Friedrich von Hayek, winner of the Nobel prize for economics in 1974. In his acceptance speech, he spoke of the presumption of knowledge. Mr. Hayek said that it is very difficult to make economic forecasts because economics is a social science. The economy is made up of thousands of individuals who buy and sell goods every day, and thus society at large engages in the consumption of goods. It is very difficult to use mathematical models to anticipate human behaviour. For that reason, economic projections usually have to take into account the fact that economics is not a hard science, but a social science. That is why it is very difficult to foresee human behaviour.
My question is very straightforward. Do you agree with me and with Friedrich von Hayek that economics is a social science, and that economic forecasts are therefore very haphazard?