Maradona’s contribution to monetary theory

Summary:
Sad news from Argentina today. Diego Maradona, one of the most gifted footballers to ever play the game, has died. While his dribbling prowess was world renowned, fewer people know that his skills were used to construct one of the most memorable monetary policy analogies of all time. Back in 2005, then Bank of England governor Lord Mervyn King described the two goals that the Argentine scored against England in the 1986 World Cup to show how central bankers had modernised. Both goals were memorable. Each for totally different reasons. The first, the so-called “Hand of God” goal, saw the 5ft-5in-forward beat England goalkeeper Peter Shilton to the ball with an outstretched fist. This, Lord King said, summed up the old “mystery and mystique” approach to central banking. It

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