John Kay

Mon, 23 Jun 2003 15:51:00 -0400
/economics

Financial Times columnist John Kay has some great articles on his site including, but by no means limited to…

Bayesian probability and the law:

Thomas Bayes, an 18th-century Nonconformist clergyman, discovered that his game of billiards was improved by an understanding of contingent probabilities - the likelihood that an event will occur if some other event has already occurred.

The demise of economics:

Back in the 1960s, when I decided to take up the subject, economists were living in a golden age. The world economy had experienced two decades of unprecedented growth and stability. It seemed that Keynesian policies could cure unemployment and control the business cycle.