Assuming you haven’t left planet Earth in the past two weeks, you know the 2010 World Cup is well underway in host nation South Africa. Even the uninterested have heard the unmistakable “buzz” emanating from its stadiums, as if a massive swarm of bees had descended. The vuvuzela, or African horn, is the source of the reverberating sound and blowing it is the proud tradition of South African football fans. Although it may be causing consternation among players (and hearing loss among spectators), FIFA has dismissed calls to ban it. Indeed, the raucous chorus of vuvuzelas has been the hallmark of this year’s World Cup and—respectively putting South African sporting sensitivities aside—one of its great distractions.
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By focusing on debt and inflation, economists are blowing their own vuvuzelas.
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