Monday, December 30, 2013

Quotes of the day

FLG thought this was worth highlighting given the recent China air defense zone kerfuffle from page 107 of Special Providence:
No other principle has played such a major role in our diplomatic history; infringing on our freedom to travel by sea and air remains the fastest way for foreign powers to start a war with the United States.


Also, FLG was intrigued by the alleged reversal of FLG's Time Horizons Theory in this quote from Stiglitz:
In practice, the right’s narrow focus on incentives has proved inimical to long-term thinking and so rife with opportunities for greed that it was bound to promote distrust, both in society and within companies. Bank managers and corporate executives search out creative accounting devices to make their enterprises look good in the short run, even if their long-run prospects are compromised.

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