Wisdom Beyond Their Years
Economics
Financial Markets
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.