Monday, December 05, 2005

Politics and Economics

In a nutshell, Gunnar Tómasson has managed to capture the problem with trying to bring politics into economics:
There is no guarantee that coherent monetary analysis will accommodate anybody's political views. So there are two ways to go -

1. Put political views aside while clarifying one's thinking on monetary issues;
or
2. Put analytical considerations aside to accommodate one's political views.
But one can't go both ways at once.