I was going to buy Mark Woolhouse’s book but if his conclusion is that economy, health. and society-wrecking policies were a merely innocent “mistake”, then I won’t bother.
In the '80s a certain PM was a monetarist and we had the Money Supply Argument which involved all sorts of stuff like M3, M4 which confusingly weren't motorways but credit supply, the money printing presses and the velocity of money (or was that Keynes?) Anyway, Auntie took it seriously and would tell us about it in great detail whilst also telling us which shipyard or engineering company had just closed its doors that day forever.
It was all v uncomfortable with interest rates of 15% but brought down inflation in the end. Maybe we'd have been better off keeping the industry and being a banana republic but people always get vilified if they try the hard line. And usually get stabbed in the back by their own kind. And don't get re-elected; I can't see Bojo doing anything that smacks of that discipline.
I was going to buy Mark Woolhouse’s book but if his conclusion is that economy, health. and society-wrecking policies were a merely innocent “mistake”, then I won’t bother.
In the '80s a certain PM was a monetarist and we had the Money Supply Argument which involved all sorts of stuff like M3, M4 which confusingly weren't motorways but credit supply, the money printing presses and the velocity of money (or was that Keynes?) Anyway, Auntie took it seriously and would tell us about it in great detail whilst also telling us which shipyard or engineering company had just closed its doors that day forever.
It was all v uncomfortable with interest rates of 15% but brought down inflation in the end. Maybe we'd have been better off keeping the industry and being a banana republic but people always get vilified if they try the hard line. And usually get stabbed in the back by their own kind. And don't get re-elected; I can't see Bojo doing anything that smacks of that discipline.
You don’t genuinely think they let him make any actual decisions do you?