The Prince Unconstrained: A Response to Michael Taft
The late, great monetary economist Hyman Minsky (1986:110), quoting Nobellist James Tobin, once wrote of economics theory that:
“the terms in which a problem is stated and in which the relevant information is organised can have a great influence on the solution”.
Minsky goes on to write:
“But the way the problem is stated and the identification of [...]
