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Lies told by economists 2 - the economy is always managed so as to maximise the welfare of all

One of the constantly repeated stories told by economists is that the current programme of austerity is for the good of us all. The austerity programmes adopted by Western governments are necessary to root out from the economy of the excesses of the past spendthrift governments. 1,381 more words

Economics

When being wrong is being right, the majority perspective on economics

One of the greatest of follies is the excitement that is generated over the Bank of England’s announcement of interest rates. Once a month the monetary policy committee meets to decide the bank rate, that is the rate of interest the bank will charge on loans it might make. 915 more words

Economics