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07/17/2009

Impossible Mission Commission, by Arnold Kling

Keith Hennessey writes


Yesterday Senate Minority Leader Mitch McConnell (R-KY) appointed me to be a member of a new Financial Crisis Inquiry Commission...The purpose of the Commission is "to examine the causes, domestic and global, of the current financial and economic crisis in the United States."

I can remember my father telling me that a question such as, "What caused the first World War?" cannot be answered scientifically. We cannot run a controlled experiment to verify a hypothesis The financial crisis poses a similar challenge.

I could come up with a very long list of controlled experiments that would help sort out difficult issues. Off the top of my head....


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