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Saturday, March 12, 2011

Really interesting interview with BoE Governor Mervyn King...

Excellent, wide-ranging interview.  The following quote made me stop and think...
“The more I’ve thought about how labour markets work, the more I’ve realised that there are hardly any jobs whose tasks you can describe exactly. Nowadays, most jobs have the property that employees can choose to do them well or badly, so employers need to think about the long-term welfare of the staff not just pay today.”
Another nice comment more relevant to my current line of research:
“I wish I’d spoken out more forcefully about the build-up of leverage.”
Amen, brother...Amen.

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