“Anyone who believes that exponential economic growth can go on forever on a finite planet must either be a madman or an economist.”- Kenneth E. Boulding
“Mathematics brought rigor to economics. Unfortunately it also brought mortis.”-Kenneth E. Boulding
There is so much to talk about! The accelerating growth in the US economy versus the deceleration elsewhere, the potential for deflation, the lack of synchrony in world economies, the Greek political situation and its impact on the Eurozone, etc, etc. But first, let’s address the lousy job that most economists have done in recent forecasting.
This has been a very confusing time for most economists and strategists, including ourselves. Traditional rules of thumb seem not to apply in a complex geopolitical backdrop with ascendant currency wars and threats of deflation. In our search for direction, we have found the theory of evolutionary economics to be of some help; hence, the above quotes.