Economists and Daedalus

In a recent BBC radio 4 piece Justin Champion talks about the responsibility of scientists.

One of the contributors, Edith Hall, suggests that Daedalus is at fault for not preventing the death of his son Icarus because he should have known that Icarus was a reckless young man who would exploit the flying technology.

It is a clear analogy of how we foolishly trusted the financial sector with our economy – and how we should have been more forthright in our regulation and our subsequent disciplining of this sector which is well known for, if not inherent, recklessness.

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