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:
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?