The Power Of Storytelling, Parable and Simplicity, An Economist Viewpoint

"There is also a deeper point: A simple story is not the same as a simplistic one. Even our little parable reveals possibilities that no amount of investigative reporting could uncover. It suggests, in particular, that what might seem to a naive commentator like a natural conclusion - if productivity growth in the steel industry reduces the number of jobs for steelworkers, then productivity growth in the economy as a whole reduces employment in the economy as a whole - may well involve a crucial fallacy of composition"

Paul Krugman, in The Accidental Theorist, 1997


This photo is published on my blog with the authorisation of Gary Waidson (© Gary Waidson 2009) and here is a link to the web site it was created for: http://www.lore-and-saga.co.uk