Friday, February 19, 2010

Better risk assessment and value measurement is essential to help prevent what happened to banks happening to the planet.



An example of how not to do this is offered by the group of eminent economists (an oxymoron?) who have written to the Financial Times to voice their dissent with George Osborne's proposed economic policies. Regardless of the grounds for their objection their underlying rationale for objecting is that:

"for the good of the British people, the first priority must be to restore robust economic growth"
Now I would normally revel in a group of academics sticking their noses into the political sphere, particularly to object to Tory policies. However, this current argument is so blindly ignorant of reality that it is painful to hear it vomitted out into the press. How many times must people point out that economic growth is not only utterly unsustainable but also broadly sociopathic.

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