Like a caption competition, but better.
An idea shamelessly cadged off Henry Farrell at Crooked Timber, although since it’s in aid of kicking Alan Greenspan, why not?
Henry thinks this euphemistic part of the ex-Maestro’s op-ed on Dodd-Frank needs immortalising as an internet meme:
The problem is that regulators, and for that matter everyone else, can never get more than a glimpse at the internal workings of the simplest of modern financial systems. Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s “invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates.
We agree — and are seeking financial variations on the phrase from you, our dear readers, to ensure the meme spreads. You know: ’With notably rare exceptions, Mr Madoff is good with money’ kind of thing.
Put your efforts in the comments below. We’ll highlight a few favourites next Wednesday (April 6th). And in case you’re wondering, with notably rare exceptions, such as this one, all FT Alphaville competitions come with prizes.
Keep ‘em clean.
Related link:
The rantings of an ex-maestro - FT Alphaville
Less maestro, more ingénue – FT Alphaville (2009)
