Appointments are not required explanation or interpretation. They are so sharp that resonate with the experiences of each. One of them immortal, is due to the French satirical par excellence, François Rabelais. Account in the "Gargantua" the story of a voyage in a ship loaded with sheep, in which a certain Panurge has a nasty incident with one of the dealers. In revenge, Panurge purchase a sheep that sheds act followed the sea. From there, the animal attracts others their bleating lambs, which are thrown behind him without a second thought and, of course, perish.
all know that the action described is common and can be applied to a number of cases: what happens at parties, in elections, fashion, art, fire in the clubs, etc. , or in uncertain situations, subjective or stressful. But these days, which abounds all that, the phrase has been rescued, not without reason, to describe the absurd behavior of markets, those that are often presented as models of rationality and wisdom. In economic experience we have the topical example of a "rush Bison "happens when a stock market panic the herd is in a rush to the first issue that shoots out of nowhere. But what of the sheep is more nuanced and realistic, it seems to me, because it has a touch of gentleness with the pack facing their fate.
Bernard Cassen, an economist lucid ATACC honorary chairman, has written an article about this title: "All the water, like Panurge's sheep!" as a way of summarize the situation more tragic than comic, European governments that blindly follow the stampede Angela Merkel headed to the safety of going right to the slaughter. Not only that says so. In the Manifesto of Economists Terrified, "another little book of which I highly recommend reading other famous economists, but not sheep or hangers, as Philippe Askenazy, Thomas Coutrot, André and Henri Orléan Sterdyniak, refer the same.
"Anyone with a little common sense," he says in his article Cassen hardly understand how, within an economic unit as cohesive as the EU, an irrational juxtaposition of austerity plans to reduce public debt could lead to growth of the countries involved. Such an example of magical thinking accounts for the confusion and even panic among European governments. All have yielded to Berlin, capitulating to the most powerful. The problem is that the German model is not exportable to its members, unless they seek their destruction. A model that is based on the stagnant consumption and trade surpluses, may be of interest to Germany, but it ruins everyone else. "In Germany itself, one might add, as happened last Panurge.
The stampede triggered by the Foreign Minister is due not only to a kind of moralizing, very Teutonic taste of that first and foremost, we must be frugal: they are short interest in the German part. But, alas, the sheep are blindly.
"The Economists 'Terrified', meanwhile, warn of the fallacies that have permeated the pack, such as financial markets are efficient (when they are already the view is), that promote economic growth (to be rather the remuneration of shareholders and managers), that markets are good judges of creditworthiness of the states (?), that the excessive increase in public debt is the result of excessive spending (from whom, exactly?) you need to reassure the financial markets to finance public debt, that the EU stands for European social model (?), and so forth.
But there is nothing to do if the sheep do not see it. There are also other ways to die fast and electrifying. Eg Intereconomía plugged.
all know that the action described is common and can be applied to a number of cases: what happens at parties, in elections, fashion, art, fire in the clubs, etc. , or in uncertain situations, subjective or stressful. But these days, which abounds all that, the phrase has been rescued, not without reason, to describe the absurd behavior of markets, those that are often presented as models of rationality and wisdom. In economic experience we have the topical example of a "rush Bison "happens when a stock market panic the herd is in a rush to the first issue that shoots out of nowhere. But what of the sheep is more nuanced and realistic, it seems to me, because it has a touch of gentleness with the pack facing their fate.
Bernard Cassen, an economist lucid ATACC honorary chairman, has written an article about this title: "All the water, like Panurge's sheep!" as a way of summarize the situation more tragic than comic, European governments that blindly follow the stampede Angela Merkel headed to the safety of going right to the slaughter. Not only that says so. In the Manifesto of Economists Terrified, "another little book of which I highly recommend reading other famous economists, but not sheep or hangers, as Philippe Askenazy, Thomas Coutrot, André and Henri Orléan Sterdyniak, refer the same.
"Anyone with a little common sense," he says in his article Cassen hardly understand how, within an economic unit as cohesive as the EU, an irrational juxtaposition of austerity plans to reduce public debt could lead to growth of the countries involved. Such an example of magical thinking accounts for the confusion and even panic among European governments. All have yielded to Berlin, capitulating to the most powerful. The problem is that the German model is not exportable to its members, unless they seek their destruction. A model that is based on the stagnant consumption and trade surpluses, may be of interest to Germany, but it ruins everyone else. "In Germany itself, one might add, as happened last Panurge.
The stampede triggered by the Foreign Minister is due not only to a kind of moralizing, very Teutonic taste of that first and foremost, we must be frugal: they are short interest in the German part. But, alas, the sheep are blindly.
"The Economists 'Terrified', meanwhile, warn of the fallacies that have permeated the pack, such as financial markets are efficient (when they are already the view is), that promote economic growth (to be rather the remuneration of shareholders and managers), that markets are good judges of creditworthiness of the states (?), that the excessive increase in public debt is the result of excessive spending (from whom, exactly?) you need to reassure the financial markets to finance public debt, that the EU stands for European social model (?), and so forth.
But there is nothing to do if the sheep do not see it. There are also other ways to die fast and electrifying. Eg Intereconomía plugged.
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