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A sideways look at economics

It’s not what you say, it’s the way that you say it

14 September 2018|

When Gandalf picks the Ring out of the fire and shows it to Frodo, words glow into life that were etched into the gold.[1] Frodo says: “I cannot read the fiery letters”. Gandalf explains that they are written in an ancient script, which he renders in the common speech as: “One ring to rule them all, one ring to find them, One ring to bring them all and in the darkness bind them.” This wasn’t just a pretty trinket, capable of helping with a party trick, but the ring of power. Apart from revealing my inner LOTR geekiness, what does this have to do with economics? Sometimes, in economics as in fantasy novels, appearances can be deceptive.

Thank Fathom it's Friday

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