- Download: “Choose your own financial crisis“, working paper
On a recent trip to London you decided to visit the Bank of England museum, and played the infamous “Monetary Policy Balloon game”. In fact, you played it so well an alarm sounded and several men wearing black suits asked you to accompany them “upstairs”. You are told that the Governor, Mervyn King, has taken ill and they are looking for a stand-in. You have the high score, so they turned to you. The future of the British economy is in your hands. Academics, policymakers, the media and the general public will depend on YOU to do the right thing. But what is it?
- The full version of the paper (with the methodological note) is available to download via SSRN. (You can also click here to view a map of the narrative.)
It is vain to meditate what prices would have been if some of their determinants had been different. Such fantastic designs are no more sensible than whimsical speculations about what the course of history would have been if Napoleon had been killed in the battle of Arcole or if Lincoln had ordered Major Anderson to withdraw from Fort Sumter.Human Action (1949 , p. 395)