Three percent exceeds 2 percent by 50 percent, not by 1 percent.
--Edward Denison, in conversation, about 1960
An obvious point, but one that is important--and commonly overlooked--in discussions of economic growth.
Observe how he has made a breast of his back.
In life he wished to see too far before him,
And now he must crab backwards round this track.
--Dante Alighieri, TheInferno (Canto XX, Circle Eight--The Fortune Tellers and Diviners), early 14th century
This is Dante's vision of the fate of economic and political forecasters.
Where is the wisdom we have lost in knowledge?
Where is the knowledge we have lost in information?
--T.S. Eliot, The Rock, 1934
TODAY IN SLATE
Don’t Worry, Obama Isn’t Sending U.S. Troops to Fight ISIS
But the next president might.
IOS 8 Comes Out Today. Do Not Put It on Your iPhone 4S.
Why Greenland’s “Dark Snow” Should Worry You
How Much Should You Loathe NFL Commissioner Roger Goodell?
Here are the facts.
Amazon Is Launching a Serious Run at Apple and Samsung
Slim Pickings at the Network TV Bazaar
Three talented actresses in three terrible shows.
More Than Scottish Pride
Scotland’s referendum isn’t about nationalism. It’s about a system that failed, and a new generation looking to take a chance on itself.