Category: Blog
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How to save hundreds of billions of pounds
As things stand, central banks use interest rates to control inflation, while governments use tax and spend mostly to bride us at election time or save up to bribe us at future elections. We should leave monetary policy unchanged with independent central banks committed to a low inflation target. The problem is that interest rates…
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Free markets work; free trade only benefits tyrants
Steinbeck’s The Grapes of Wrath made me realise that the social and moral context of economics matters and that a novel is a great way to explore it. When I wrote the first draft of Creative Destruction in the late 1990s, the social collapse that triggers the novel was scheduled for a distant 2033. It went…