Monday, February 4, 2008

Glassman's Law

Economists like to cite Stein’s Law: “If something cannot go on forever, it will stop.” I think it needs to be paired with another law — let’s call it Glassman’s Law — along the lines of “If something unsustainable goes on for a while, there will be people claiming it can go on forever.”

-Paul Krugman

Related Podcast;
Glassman of JPMorgan Expects U.S. to Avoid Recession


Marshall Jevons said...

Note- Krugman is talking about a different Glassman.

Ken Houghton said...

Nope. James "Dow 36,000 and I don't mean Yen" Glassman in both cases.