Stephen Kinsella: A “nutter in a balloon” gives you perspective


Stephen Kinsella has some advice for economists: “Sometimes, all you need is a nutter in a balloon to change your perspective. And perspective is everything.”

Using Nobel prize winning physicist Victor Hess’s famous hot-air balloon trip as a model, INET grantee Kinsella takes readers through the different levels of the European crisis, from the ground-level view of banks and the private sector up through the “10,000 feet” panorama of supranational institutions and global superpowers.

To Kinsella, Hess’s “change of perspective uncovered something totally new, a low probability, high impact event that couldn’t be foreseen ahead of time, even by experts in the area.” And amidst the uncertainty of the euro zone crisis, Kinsella himself provides readers with a much-needed change of perspective as well.

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