The backcover blurb on P.G. Wodehouse novels quotes a tribute from Stephen Fry about P.G. Wodehouse: “You don’t analyse such sunlit perfection, you just bask in its warmth and splendour”. Of course, needless to add, I agree with it totally.
But, that is not the point of this post. It is about Emanuel Derman. When he writes such short and devastatingly sensible blog posts, you do not try to parse it, dissect it or explain it. You simply point the readers to them. Three of his recent posts are gems.
In this post, Citing Max Weber, Emanuel Derman extends the qualities that Weber says, are required of politicians to economists, I think. A feeling of responsibility and sense of proportion are required, especially when one cannot be sure of the consequences of one’s theories. Given recent debates in this blog itself and elsewhere, this suggestion has not come a day sooner. But, there should be no doubt in any one’s mind that it would be ignored.
His short posts on how banks should be regulated and on whether economics deserves to be value-free are short, simple and devastating that it is impossible to summarise them. Savour them here and here.