This is an excellent, MUST-READ article by leading financial journalist, Martin Wolf, writing in the FT.

via Osborne has now been proved wrong on austerity – Martin Wolf -FT.com.

The reality that the economic management of the UK under David Cameron  has been an omni-shambles must be sold to the masses ahead of the next election, in my view. Conservative Vs. Labour economic management will be the pivotal issue in the next election, in my judgement.

Because of excessive authority, most people, especially the middle and lower classes have suffered unnecessary financial hardship. The main beneficiaries under Osborne have been the very high earners and very seriously wealthy.

Let me turn this to an open question:

Why has the popular media not focused more on the unnecessary pain caused by Osborne’s excessive austerity?

Any thoughts?

DALIAN/CHINA, 12SEPT09 – Martin Wolf, Associate Editor and Chief Economics Commentator, The Financial Times. (Photo credit: Wikipedia)

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