The Art of Economics
A timely, civilised conversation – no politicians involved – from Hearts and Minds last night. Economist John Simpson and Dr Andrew Baker, no relation, from Queen’s University on the G20 communiqué and the art of economics. Some key lines, John Simpson – “There are a lot of those Prime Ministers going to that meeting today knowing the paper they were going to sign at the end of the day because the sherpas, as they say, have been negotiating it for days.” Dr Andrew Baker – “Too few people understood what was going on and the extent of the damage is still emerging, and will continue to emerge for some time. So anybody who sits down and tells you, and looks you in the eye and says, ‘This is where we’ll be in twelve months’, I don’t think is being entirely truthful.”
Pete
thanks for this as I missed on the evening.
I am reminded of a quote by JK Galbraith (how I miss the mans insight and astuteness) to the effect that
‘Economists exist to make astrologers look good’
Perhaps some bloggers on this site should reflect on the statement and the implicit humility therein.
wt
Reflection and humility are, unfortunately, often in short supply in these parts.