Better Forecasting for Better Planning: A Systems Approach.

Predictions and forecasts are the most critical features of rational planning as well as the most vulnerable to inaccuracy. Because plans are only as good as their forecasts, current planning procedures could be improved by greater forecasting accuracy. Economic factors explain and predict more than any other set of factors, making economic analysis the most reliable forecasting tool available. Among various models of economic analysis, one based on regional income and product accounts is preferable for its construction and manipulation ease. (RA)