Let me ask… Can you fix the economy? The ‘mortality question’.

I had coffee today with one of my favourite industry guys (who shall remain nameless!), when we meet there is generally a very active dialogue on any topic that comes up, when we got onto the economy I told him I have a question that I like to ponder called the ‘god question’, it’s simple you ask a person ‘if you had godlike powers what three things would you do in the morning to fix the economy’ [you can ask this question for any topic, it often brings out some surprising answers].

I asked Dan O’Brien this at a conference and he didn’t have an answer, but he said it was a good question. The next person I tried it with was Karl Whelan, his answer was only two things, ‘raise taxes and cut spending’. Suffice to say the question is flawed because giving godlike powers infers that resistance will be futile or non-existent, Karl copped that straight away and answered accordingly.

So there is a new question to replace it, we can call it the ‘mortality …

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Yale economists discuss the financial crisis

Yale hosted a panel discussion with Yale Faculty on the National Financial Crisis, to discuss developments since the February 25, 2009 panel discussion. Panelists included John Geanakoplos (James Tobin Professor of Economics) and Robert Shiller (Arthur M. Okun Professor of Economics). The discussion was moderated by Yale University President Richard Levin (Frederick William Beinecke Professor of Economics).

This talk is a ‘must see’ in terms of viewing, Robert Schiller is not only a professor of economics but also the author of several popular books (the subprime solution and irrational exuberance) and the namesake to one part of the world known Case-Schiller index.

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