Quote of the Day

A quote about my own academic discipline, coined by a University professor before I was born but still a point which anyone addressing the subject needs to bear in mind today ...

"One of the difficulties of economics is that it is too easy to explain after a particular event has happened, why it should have happened; and too easy to explain before it happens, why it should not happen."

(M.G. Kendall, London University, quoted in Montreal Star, December 1960)

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