Everyone knows about and likes to quote that snooty saying, “When facts change, I change my opinion. And what do you do, Sir?” But no one knows who actually said it — Keynes, Churchill or Samuelson. All three have been credited with it, or its variations.
Never mind, though. What’s important is not that we change our opinions only after the facts change but — and far more importantly — also periodically ask if the facts, especially the really big ones, have changed. Most policy errors happen because the world over, the politicians and the bureaucracy are not trained to
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