Posts in Economics
Wish I'd said that - September 16, 2020

“To shorten the winter, borrow some money due in the spring.”

W.J. Vogel quoted as “Thought du jour” in “Social Studies” in Globe & Mail December 16, 2003 [but I think Benjamin Franklin got there first with “Those have a short Lent who owe money to be paid at Easter.”]

Wish I'd said that - September 9, 2020

“As a profession, we have made a mess of things. It seems to me that this failure of economics to guide policy more successfully is closely connected with our general propensity to imitate as closely as possible the procedures of the brilliantly successful physical sciences, an attempt which in our field may lead to serious error…. If man is not to do more harm than good in his efforts to improve the social order he will have to learn that in this, as in all other fields where essential complexity of an organized kind prevails, he cannot acquire that full knowledge which would make mastery of the events possible.”

Friedrich Hayek in his speech accepting the Nobel Prize in Economics, quoted in Brian Lee Crowley The Road to Equity