“We all have faith. eg I have faith in science & friends.”
Month: October 2012
Grey-Haired Wisdom of Hindsight
Interesting interview with Mervyn King by Steph Flanders.
Before the financial crisis of 2008, Sir Mervyn says, he had struggled to comprehend how policy makers had allowed the economic disasters of the interwar years to take place – now he understands all too well.
But interesting nevertheless on “simplistication” – wise economists always had important caveats to their headline slogans inevitably adopted as dogma by the policy-makers. eg Keynes and Hayek should be read as complementary not conflicting.