Thursday, November 13, 2008

Why didn't anyone notice it?

Queen Elizabeth has lost 25 million pounds in the global financial turmoil, according to this story.

When she was given a briefing on the economic meltdown, she asked the experts, “ Why didn’t anybody see this coming?” A question on all on our minds now, but when the Queen asks, she got a reply.

Professor Luis Garicano, director of research at the LSE’s management department, was quoted as saying,

“At every stage, someone was relying on somebody else and everyone thought they were doing the right thing”.

It is that old fable again.

"There were once four economists: Everyone, Someone, Anyone and Noone. They had a very important task to do, namely to forewarn the world about an impending meltdown. Everyone was sure that Someone will do it. Anyone could have done it, but Noone did it in the end. Everyone thought that Anyone could have done it, but Noone realized that Noone will do it in the end. In the end, Everyone was angry at Someone because Noone did what Anyone could've done.The Queen lost 25 m pounds and asked "Why didn't Someone tell me?" Someone said that Everyone thought he was doing the right thing till it was proved wrong.


Anonymous said...



Raj said...

kajan, thanks