Rapid responses

Good in theory

[Re: Osborne should move fast and make Tucker next governor, Wednesday]
Although economics is a well established discipline studied across the globe, it ought to be recognised that its theories are not testable, not even retrospectively, and therefore have no practical value like those of the physical sciences and engineering. Theories which do not yield definitive outcomes should be treated in the same way as political programmes: as being attempts at persuasion, facilitated by data and explanation, but ultimately without objective value. There is a reason why it is studied alongside politics and philosophy.

Philip Genes


BAE blunder

[Re: BAE’s chairman must go, Thursday]
I could never see the logic behind this merger. It was reported in the media as a bringing together of predominately military and civil aircraft businesses to complement the ebb and flow of the respective business cycles. In which case, why did BAE Systems sell off Airbus UK to the Airbus parent not so long ago? BAE Systems has done some strange things over the years, such as vastly overpaying to acquire the old Marconi Electronics Systems then divesting themselves of major portions of that original purchase. Not an outstanding record.

Frank Withers



The EU certainly won’t be getting the Nobel Prize for Economics! Time to ditch austerity and embrace reform.

The European Union will not be travelling to Oslo for the acceptance speech because the bond markets have it under house arrest.

BREAKING: The 27 member states are already fighting over who will pick up the prize in Oslo.

“Lance Armstrong’s darkest legacy will be that he convinced millions of men it was ok to wear cycling shorts” – Andre Botha.