Sephton reviews Leonard Mlodinow’s recent book, The Drunkard’s Walk: How Randomness Rules Our Lives Copyright International Institute of Forecasters, 2009

Forecasting recessions is fraught with difficulties: we never know if we are in recession until long after one has started. This makes it all the more important to try to predict in advance the likelihood of recession, so that businesses can plan accordingly. Peter takes us inside the...