English: Oxford University Museum of Natural History, Oxford, UK (Photo credit: Wikipedia)

This is a brilliant, MUST READ article from Oxford economist, Simon Wren-Lewis, based on a lecture and published in his Mainly Macro blog. Check it out!

mainly macro: Stages of Economic Recovery in the UK.

As I read this article two words were etched on my mind:

• Banks
• Austerity

Simply, banks were responsible was the crisis and are still responsible for the UK’s failure to recover more effectively. Secondly, the UK Government’s excessive austerity has delayed growth by three years.

So what will the political classes do about the banks and excessive austerity?

Any thoughts?

• Ken Rogoff on UK austerity – Simon Wren-Lewis – Mainly Macro
• How much has UK austerity cost (so far)? Simon Wren-Lewis – Mainly Macro
• Why no public fury over austerity? Simon Wren-Lewis – Mainly Macro
• The ‘official’ cost of austerity Simon Wren-Lewis – Mainly Macro
• Austerity, growth and being economical with the truth -Simon Wren-Lewis – Mainly Macro
• Left, Right and Centre: some recent observations – Simon Wren Lewis – Mainly Macro
• Will the UK Conservatives become like the Republican Party? – Simon Wren-Lewis – Mainly Macro
• mainly macro: The MPC’s Forward Guidance – Simon Wren-Lewis
• Why I am obsessed by austerity – Simon Wren-Lewis – Mainly Macro
• The wrong sort of recovery – Simon Wren-Lewis – Mainly Macro