Sunday, July 26, 2009

Elizabeth II and the economists

As Ma'am is no doubt aware...

A group of eminent economists has written to the Queen explaining why no one foresaw the timing, extent and severity of the recession.

The three-page missive, which blames "a failure of the collective imagination of many bright people", was sent after the Queen asked, during a visit to the London School of Economics, why no one had predicted the credit crunch.

Signed by LSE professor Tim Besley, a member of the Bank of England monetary policy committee, and the eminent historian of government Peter Hennessy, the letter, a copy of which has been obtained by the Observer, tells of the "psychology of denial" that gripped the financial and political world in the run-up to the crisis.

...some people have been talking about it for years.

Hmm, while she's at it perhaps HRH could ask her Canadian ministers (through a court if necessary) why they appear to be going out of their way to violate the Charter rights and endanger the lives and wellbeing of her brown-skinned Canadian subjects abroad.

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