5 Conclusion Ladies and gentlemen Alfred Nobel never envisioned a Nobel Prize for Economics. On the contrary, he once wrote in a letter that he did not have an economic education, and that he hated it with all his heart. No wonder economics is dubbed the “dismal science”. Obviously, I do not share Nobel’s sentiment.
Many commentators worry that the tightening might result in excessive slowing in these economies, but our reading of recent data suggests that growth is returning to around a trend rate. Graph 1  BIS Review 130/2010  1  Latin America is also generally performing well. Growth in the US economy, however, has been lacklustre.