Wisdom Beyond Their Years

Treasurer Peter Costello encounters a teenager who understands dynamic inconsistency:

Recently a student at Melbourne High School asked me whether the recent superannuation changes I announced could be undone by a future government. Why would it bother you? I asked him. ‘Because I want to put as much money into superannuation as I can this year’ he said.

Of course, if the kid fully understood dynamic inconsistency, he would realise that asking Costello is pretty pointless.

posted on 06 July 2007 by skirchner in Economics, Financial Markets

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