Quietly, quietly, a revolution is taking place in Britain. Its forum is neither the streets nor the barricades, but committee meetings chaired by economists and overseen by politicians. The Bank of England, now in its 25th year of independence from …
The Bank of England is sacrificing workers
When Britain’s brightest economists gathered last week, they set themselves a straightforward task: to decide what to do about the UK’s high rate of inflation. Eventually, after much brain-racking, they came up with a solution: to crash the economy.
It …
Why Britain can’t control inflation
“We are living in an expensive and increasingly poor country,” thundered The Guardian‘s political editor, furious at the crumbling state of the nation unable to pay its workers properly. “It is not much use lecturing people about paying themselves more …