Five things economists can do to regain trust

The Bank of England's chief economist has admitted errors in its Brexit forecast - how can the profession get out of its crisis?

The Bank of England's chief economist has admitted his profession is in crisis having failed to foresee the 2008 financial crash and having misjudged the impact of the Brexit vote. Andy Haldane said it was "a fair cop" referring to a series of forecasting errors before and after the financial crash which had brought the profession's reputation into question.

So what can the dismal science do to regain the trust of the public and politicians?

Related: Chief economist of Bank of England admits errors in Brexit forecasting