he stated that 90 per cent of the angel investing in Britain takes place in Scotland – suggesting England should learn from Scots’ prowess. Unlike the minister or his speechwriter, I am involved in angel investing, so I know what a foolish error this was.
No doubt most economists believe that policymakers, financiers and entrepreneurs should listen better to their forecasts and ideas
How many called the US housing bust correctly? Armies of brilliant economists were paid magnificent salaries by all the banks that almost destroyed the west.
If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.”
The best move for the world’s economists would be to each start their own business. Then they would experience at first hand the challenges of capitalism on the front line. And for those who couldn’t cope with such a brave step, perhaps they could turn to philosophy, and teach us all how to lead more moral lives. I’m sure that would be more useful than what they do now.
Posted from Diigo. The rest of my favorite links are here.