Very Clever People

I still can't get out of my head how very clever these investment bankers are. I've been quoting the statistics to my colleagues at work all day. Amazing how they've managed to turn the business of banking into a revenue stream which solidly ends up in their own pockets. It's that statistic about Tesco's that really hit home for me - investment banks pay 50 percent of their revenues in salaries and bonuses. If Tesco's did the same with their 400,000 staff, your local shelf-stacker'd be on £100,000 a year.

Some really good news about a truly clever person. Today's announcement that Paul Krugman has won the Nobel prize for economics is good for the profession, good for the popularisation of the subject and good for the future.

He is a savage critic of Bush and the policies he represents.

We need more of them.
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Further reading: the BBC on today's Nobel prize announcement | the New York Times reports the same story