hicken Licken felt an acorn fall on his head and thought it was the sky falling in. In the allegory, the foolish animal ran around, panicking other farmyard birds with his terrifying theory until, in the end, they all got eaten by a fox.
“Now is not the time for the economics of Chicken Licken,” argued the Bank of England’s chief economist, Andy Haldane, in a speech on Wednesday.
Which is true in the sense that it’s obviously irrational to panic about a non-existent threat. But Haldane was seeking to make a more profound point than that.
