It could be as simple an answer as social pressure. The PhD's at the Fed don't like getting yelled at during cocktail parties, and while they may go pout about it together, they don't have the spine to stand up to powerful market players...or govt officials. Combine that with the junkie mentality of "oh, just one more and then I'll stop"…
It could be as simple an answer as social pressure. The PhD's at the Fed don't like getting yelled at during cocktail parties, and while they may go pout about it together, they don't have the spine to stand up to powerful market players...or govt officials. Combine that with the junkie mentality of "oh, just one more and then I'll stop" and the picture comes into focus. Cowardice is just as dangerous as malevolence.
It could be as simple an answer as social pressure. The PhD's at the Fed don't like getting yelled at during cocktail parties, and while they may go pout about it together, they don't have the spine to stand up to powerful market players...or govt officials. Combine that with the junkie mentality of "oh, just one more and then I'll stop" and the picture comes into focus. Cowardice is just as dangerous as malevolence.
Indeed. And whistleblowers tend to suffer for their bravery. As they say, there’s a reason ‘profiles in courage’ is a short book.
Well put