Named after: Charles Goodhart, Bank of England Advisor and London School of Economics' Professor Emeritus.
The Law: "Once a social or economic measure is turned into a target for policy, it will lose any information content that had qualified it to play such a role in the first place."
Tuesday, November 23, 2010
The Nolan Chart
Named after: David Nolan, founder of the Libertarian party
The Law: "The graph has two axes: one labeled economic freedom and the other called personal freedom. Under Mr. Nolan’s scheme, Libertarians dwell in the corner of the graph where both kinds of freedom are greatest. His hope was to persuade people to think of politics as a debate between libertarian and authoritarian positions rather than as one between the traditional left and right."
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