Wisdom Beyond Their Years

Economics
Financial Markets
Author

Stephen Kirchner

Published

July 6, 2007

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.