On TV Economists and Bankers

Maurice Allais, on TV economists, bankers and traders:

“The commentators that I see on TV talking about the causes of the current crisis are usually the same that where invited before to analyze, with total serenity, how good the economy was. They did not announce the forthcoming crisis. Almost none of them propose anything serious to get out of the crisis. But they are still invited to TV shows. I myself was not invited when, more than ten years ago, I was writing that a major crisis with uncontrolled unemployment was about to happen. I am among those who were not allowed to explain to the French what are the real origins of the crisis, while they were dispossessed of any real power on their currency to the profit of bankers. In the past, I did indicate to the hosts of a TV show that I was willing to come and talk about what banks have become progressively today, about the very dangerous role of traders, and about why some truths are not told about them. No response, even negative, was given to me from any TV network for years.” (from Maurice Allais, “Contre les tabous indiscutés”, Marianne, December 5 2009, reproduced in “Le testament de Maurice Allais”, Marianne, October 12 2010).


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