quinta-feira, 13 de outubro de 2011

Startling Unpublished Keynes Equations Discovered (Friday Afternoon Humor)

via Zerohedge

"LONDON | Friday Sep 30, 2011 3:26pm EDT

(Routers) – A remarkable discovery reveals equations that economists say could end the business cycle - forever.

Ian Macallum, spokesman for the Royal & Ancient Historical Society of London, told Routers that the equations were contained in an unpublished manuscript which was found in the attic of an 18th century flat in Soho.


“It’s pure Keynesian genius” said former Fed Governor Fred Mishkin. “There is a strong consensus among economists, at least within the Federal Reserve, that liquidity is the answer to the age-old question ‘what is the meaning of life?’” So, it makes perfect sense that someone as brilliant as Keynes would adapt these equations to a framework for fiscal and monetary policy.”

Although very technical in original form, Moody’s Chief Economist Mark Zandi said the final derivation of the equations can be simplified to the following:

“Unless you’re a PhD economist, I think it’s impossible to appreciate the elegance of the final derivation: by raising every stimulus factor to the power of infinity, you immediately move the probability of future recessions to zero. It’s brilliant. The notion that ‘risk’ is a necessary component of free market capitalism will finally be discredited.”..."

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