Steve Sailer in “The world’s most boring insight, again,” on complaints that economics doesn’t make useful predictions (my boldface):
On August 15, 1971, President Richard Nixon announced a freeze on all wages and prices in America for three months. From the perspective of 2013, this sounds like I’m making it up. But it really happened and was popular at the time. Milton Friedman was the loudest voice predicting it would turn out to be a bad idea (which it did).