Goodhart’s law

Physicists have long noted that observing some phenomena actually changes their nature. In finance, the equivalent is known as Goodhart’s law, after the British economist Charles Goodhart, who in 1975 argued that once a measure becomes a target, it loses the very properties that made it a good gauge to begin with.

—Robin Wigglesworth in the FT: ‘How a volatility virus infected Wall Street


“When a measure becomes a target, it ceases to be a good measure.”

Goodhart’s law – Wikipedia

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A tale of two (secular) countries – 🇮🇳 & 🇹🇷

In constitutional terms, Turkey is a secular country. But whereas in most places this implies the separation of religion and state, in Turkey it means state control over religion.

The Economist: Turkey’s religious authority surrenders to political Islam

Their belief is that cow protection is central to Hinduism, and Hinduism is the core of Indian nationhood, even though the constitution says that India as a nation belongs to all religious groups. Cow protection and nationalism have got intertwined.

FT: Narendra Modi’s illiberal drift threatens Indian democracy


Please tell me that I’m not the only one who’s been seeing this connection between nationalism, religion, conservatism, and (crony) capitalism in India, Turkey and elsewhere?

Leading the curve: Russia.
Ahead of the curve: Turkey.
In the pack: India, Poland, Hungry, US, UK, Thailand, and more…