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
The World’s Politest Protesters
The Occupy Central demonstrators are courteous. That’s actually what makes them so dangerous.
The Religious Right Is Not Happy With Republicans
How Did the Royals Win Despite Bunting So Many Times? Bunting Is a Terrible Strategy.
Catacombs Where You Can Stroll Down Hallways Lined With Corpses
Homeland Is Good Again! For Now.
How White Boy Rick, a legendary Detroit cocaine dealer, helped the FBI uncover brazen police corruption.
How Even an Old Hipster Can Age Gracefully
On their new albums, Leonard Cohen, Robert Plant, and Loudon Wainwright III show three ways.