Originally posted by mudskipper
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Robert Peston, BBC Economic editor
Here is the bad news if you haven't made up your mind whether to vote for Scotland to become independent - economic analysis cannot give you the answer.
That is partly because this dismal science is not capable of giving wholly (and sometimes even partly) accurate forecasts about the future prosperity of nations.
Look at the case of a comparably sized small country, Ireland. A decade ago many economists (and others) saw it as a rip-roaring success, that had become considerably richer on a per-head basis than the UK.
Then three years ago it looked like a total basket case, as its property sector and banks imploded.
Today it can be seen as a model of how a determined small country can reconstruct its economy in adversity, in stark contrast to the inertia in a bigger country such as Italy.
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