July 2, 2010 at 3:40 pm | Posted in Economics, Eurozone, Financial, Globalization, Research, United Kingdom | Leave a comment









Four new Samuel Brittan articles

Andrew Heavens (andrew.heavens@gmail.com)

Fri 7/02/10

What comes after inflation targets
The Financial Times 02/07/10

There is more to economic policy than bank regulation, which so often (like other regulation) amounts to closing the stable door after the horses have bolted. We must not forget the traditional aim of providing a framework for economic growth with low inflation. The main instrument for achieving this has been inflation targets pursued by semi-independent central banks by means of a very short-term official interest rate. As Robin Pringle, the editor of Central Banking, remarks in the latest issue of that journal: “The current dominant framework of monetary policy may not survive its association with the crisis, and perhaps does not deserve to.” There is every sign that many central banks want to cling leech-like to this failed framework. Yet I doubt if they will be able to avoid a rethink.

Are these hardships necessary?
The Financial Times 18/06/10

Contributors to the Financial Times are normally discouraged from using headlines with question marks. But there is a good reason for the present exception. Are These Hardships Necessary? is the title of a 1947 book by the late Roy Harrod, best known as the first biographer of John Maynard Keynes. Politically he might be described as a radical Conservative. The intention of his earlier polemical work was to protest against the miseries inflicted by Britain‘s postwar government, including even the retention of controls on where people could work.

The Rational Optimist
The Financial Times 12/06/10
Review of The Rational Optimist: How Prosperity Evolves

It will not be easy, but it is perfectly possible, indeed probable, that in the year 2110, a century after this book is published, humanity will be much, much better off than it is today and so will the ecology of the planet and society.” In these words, the writer and evolutionary biologist Matt Ridley throws down the gauntlet to contemporary pessimists.

A plan to live with ‘imbalances’
The Financial Times 04/06/10

Some of my older readers may remember national savings drives. These were prominent in the second world war as part of the “civilian effort”. But they lingered for many decades; and within living memory every UK Budget speech contained a sentence of thanks to the chairman of the National Savings Movement. Now the citizens of some countries, especially China and Germany, are being subjected to the opposite kind of propaganda: to spend more for the sake of the world economy. My own belief is that individuals and families should make up their own minds about how much to save. Official efforts should not go beyond school lessons in personal finance.


Four new Samuel Brittan articles

Andrew Heavens (andrew.heavens@gmail.com)


Fri 7/02/10


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