The Pitfall of Assumptions in Forecasting: Lessons from “Losing the War with Japan”

In the realm of economic and geopolitical forecasting, the pitfalls of assumptions can prove both humbling and enlightening. A striking example of this can be found in the Frontline report titled “Losing the War with Japan,” which takes us back to a moment in 1991 when prevailing beliefs about Japan’s economic supremacy and America’s decline were pervasive.