Tham khảo tài liệu 'the cost of capitalism: understanding market mayhem and stabilizing our economic future_9', tài chính - ngân hàng, tài chính doanh nghiệp phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 202 The Cost OF Capitalism not see the problem coming but he was far from alone in that Hindsight is 20 20. Ask analysts in 2008 about the 5 trillion surplus story and you will probably be told that they knew it was too good to be true. To object in 2001 however you needed a large dose of skepticism and a willingness to champion a chart as your rebuttal to overwhelmingly detailed forecasting formulations. And Finally a Healthy Dose of James Joyce Comes in Handy H. G. Wells wrote a letter to James Joyce soon after the publication of Ulysses deriding Joyce s classic work. He accused Joyce of modeling a world trapped in never-ending cycles. Joyce s next creation Finnegans Wake is precisely that. Joyce has an Irish bartender fall asleep and conjure all European history in a flow of insight and invented language that begins where it ends. A blueprint for presenting the . political business cycle On vacation in the early 1990s after chatting for too long with my own bartender i began to think so. And the editorial board of the Wall Street Journal happily for me agreed. On Election Day 1992 as George Bush lost the White House to Bill Clinton the Journal s editorial page carried my parody of Finnegan s Wake Figure . There are no equations language is invented and there is a dash of tragic irony. I like to think of it as a model that has some heft despite minimal formal structure. For me the art part of economics is what makes it both funny and sad. One Practitioner s Professional Journey 203 Figure THE WALL STREET JOURNAL. TUESDAY NOVEMBER 3 1992 e 11 92 Dav Jones Ổ Company Inc. All Rights Reserved. The Economy According to Joyce Nearly half a century ago James Joyce completed his epic Finnigans Wake. The experimental novel replete with pun-filled and invented language presented the world from the point of view of a sleeping Irish barkeeper. Below Robert J. Barbera chief economist and a managing director at Lehman Bros. tries his hand at a modern-day
