In response to an FT Blog by Larry Summers on 1st April 2016, entitled 'If we really valued excellence we would single it out'
http://blogs.ft.com/larry-summers/2016/04/01/if-we-really-valued-excellence-we-would-single-it-out/?ftcamp=crm/email/follow/author/Q0ItMDAwNDQwNA==-QXV0aG9ycw==/product
If we truly valued excellence in the field of economics we would:
1. Fire all the PhDs running the Fed, the BoE and the BoJ, on the basis of a complete and utter failure to meet any of their objectives
2. Reform the 'group think' sponsored by the Federal Reserve and other 'paymasters' on Wall Street, who have a nice little 'Neo-Keynesian' monopoly going when it comes to tenure and 'juicy committees'
3. Seriously ask ourselves why on earth we trust a bunch of institutionalised academics to control the monetary system and set the most important price in capitalism, when most of them have never run a business, made a payroll, or even had a real job