This here is quality from Agata Pyzik. The minor detail that there is no evidence any central bank actually uses the famous Taylor rule, and the somewhat less minor one that using it requires making a priori decisions about two of its parameters as well as the inflation target itself. I occasionally wondered precisely what…
Read More LinksOK, a book. British Generals in Blair’s Wars (Military Strategy and Operational Art), available from the book company. Recommendation from Tom Ricks. I’ve not finished the book yet, but the big stand-out issue here is: Why is nobody responsible? Hardly anyone sees Iraq as anything other than a disaster. Meanwhile, the British armed forces have…
Read More It’s nobody’s fault and nobody is sorry.