02 May 2013

Modern Economics: Mario Draghi, Medieval Barber

People forget that in terms of science, economics is still very much in its infancy despite the pretensions of economists otherwise.   They are often wrong, but rarely in doubt.

And too often despite what could be described as best intentions they prove to be l'enfant terrible.

Thanks to Washington's Blog for reminding me of this old SNL skit.

Meanwhile in the States thanks to the advances of Keynesianism and the deft use of liquidity,
the Princeton School assured that there were no more cures attempted through bloodletting.