Sunday 4 December 2016

Too much information and all of it uncertain

All those people who are pretending to know should admit they have no idea what is going to happen, writes Jody Corcoran

Published 14/11/2010 | 05:00

It would be a good starting point if they were to admit that they do not know, for sure, what is going to happen. Here are some of the people who are pretending to know: Olli Rehn, the two Brians, Enda Kenny, Eamon Gilmore and Morgan Kelly.

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You can add to that list all of the others -- the "experts" -- who do not know either, because it is impossible to know, with certainty, what Edmund Burke might call the law of change.

Human nature dictates that the law of change be uncertain: uncertainty is fundamental to it, in fact. Without uncertainty there would be no profit, or loss, nor would such economic crises arise.

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