It should be patently obvious that putting the country into cold-storage for two years, and lavishing unfunded benefits to all and sundry to protect them from hardship, must carry dire consequences for Britain’s economy – [more…]
One of Say’s Laws holds that “we produce to consume”. This is certainly the underlying theme of the Industrial Revolution with its accompanying exponential growth in production of technology, communication, and energy utilization. While private [more…]
By now even Treasury officials and central banks recognise that their practice of Quantitative Easing has run its course. In its contemporary form, QE began a dozen years ago as a temporary emergency measure enacted [more…]
One of the greatest literary works of the age, James Joyce’s “Ulysses”, reveals its author’s surprising, yet profound, understanding of some of the most basic issues in economics. In the early days of the 20th [more…]
The woes we face are not theoretical. They are real, and worsen by the day. Very few members of the public really understand their causes, still less what can be done to reverse the decline. [more…]
Liz Truss and Kwasi Kwarteng have had to bear the brunt of the markets’ predictable reaction to their mini-budget last month. Although amateurishly presented and poorly explained, it was nevertheless replete with strategy for growth. [more…]
Every time I start this essay I find the political background has shifted so dramatically that I have to start again. Only Ollie’s complaint to Stan seems to be an apt constant: “another fine mess [more…]
In raking over the embers of Truss/Kwarteng aspirational economics a few observations are still pertinent. The fiscal “event” they staged was, its critics opined, “stillborn”, dead at birth – with no hope of getting it [more…]
Several readers expressed surprise that last week’s essay concerned my personal NHS experiences rather than the pressing issues of the day. In such a rapidly changing economic picture no commentary can ever be bang-up-to-date, while [more…]
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