The Fourteenth Banker Blog

July 19, 2010

Believe in synchronicity?

Filed under: Running Commentary — thefourteenthbanker @ 1:34 PM

This hearing is tomorrow at 10am in the Science and Technology Oversight and Investigations Subcommittee in the House. It is an investigation into the ‘science’ of economics, and how it does or does not comport with the real world.

But you already knew that, because you have perfect information.


Building a Science of Economics for the Real World

Hearing charter:

Witness statements (click on the name to view the statement):
Dr. Robert M. Solow
Dr. Sidney G. Winter
Dr. Scott E. Page
Dr. David C. Colander
More hearing info:


  1. I’ve completed my most recent Baseline fable inspired by musings on the 14th banker.

    You can read it here. The last word goes to Lucy Honeychurch.

    Comment by tippygolden — July 19, 2010 @ 5:02 PM | Reply

  2. I’m half-way through “In Fed We Trust”. Remember when you were a kid and you first realized Mom and Dad weren’t omnipotent? That’s the way I’m feeling about ALL the so-called grownups who have been and still are in charge. We are led to believe that they are smarter, wiser, able to maintain the ship of state’s true and most advantageous course. Bullpucky.
    From page 154: “Bear couldn’t borrow, and without borrowing, it couldn’t do business. It was the twenty-first century equivalent of a bank run in a world organized for twentieth-century finance. “I just never, frankly, understood or dreamed it could happen as rapidly as it did.”, Bear Stearns Al Schwartz said.
    In a nutshell,these guys who prided themselves on being the smartest guys in the room, took a WHOLE lot for granted, and their hubris led them to believe they had everything under control, even as it was unraveling at warp speed.

    Comment by Sandi — July 20, 2010 @ 1:57 PM | Reply

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