I am of course fully aware that my three lessons are not a straightforward solution to life’s uncertainties. Nor are they contingent mathematical laws that you can apply when you see fit.
As the great physicist and Nobel laureate Richard Feynman once said “Imagine how much harder physics would be if electrons had feelings!” Monetary policy-making – and life – would certainly be much simpler, but also much duller, if as in physics a few basic laws could explain most experiences.