Thursday, 8 September 2011

Catch 22-3

As politicians, journalists and (two-handed) economists furiously debate the merits of yet another round of quantitative easing (QE-3), one question is: Will the currency devaluation it generates make the economy more competitive globally? And what happens to that competitiveness if or when other countries follow suit?

The dilemma facing decision makers right now is like something out of Catch-22 (the scene where Yossarian explains his outlook on life to Danby).

"From now on I'm thinking only of me."

"But, suppose everyone felt that way."

"Then I'd certainly be a damned fool to feel any other way, wouldn't I?"

1 comment:

  1. catch22? must be more recent examples