The archive is catalogued by 'Economics', 'Politics', 'Mockingbird', 'And in other news' and 'Thoughts on other things' 

MarkGB 

"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

Larry Summers says we should single out 'excellence'. What about the other thing?

In response to an FT Blog by Larry Summers on 1st April 2016, entitled 'If we really valued excellence we would single it out'

http://blogs.ft.com/larry-summers/2016/04/01/if-we-really-valued-excellence-we-would-single-it-out/?ftcamp=crm/email/follow/author/Q0ItMDAwNDQwNA==-QXV0aG9ycw==/product

If we truly valued excellence in the field of economics we would:

1. Fire all the PhDs running the Fed, the BoE and the BoJ, on the basis of a complete and utter failure to meet any of their objectives

2. Reform the 'group think' sponsored by the Federal Reserve and other 'paymasters' on Wall Street, who have a nice little 'Neo-Keynesian' monopoly going when it comes to tenure and 'juicy committees'

3. Seriously ask ourselves why on earth we trust a bunch of institutionalised academics to control the monetary system and set the most important price in capitalism, when most of them have never run a business, made a payroll, or even had a real job 

The Fed's flip-flops are about 'politics' not data

Martin Wolf says the welfare state is a piggy bank for life