This is a MUST-READ article by leading Oxford economist, Simon Wren-Lewis.
Personally, I very much identify with the Wren-Lewis argument and conclusions.
The article examines three important spin myths put out by Cameron’s Government:
- The recession was somehow created by the previous government’s fiscal profligacy
- Cameron’s government had to “clean up the mess”, so austerity was inevitable
- The economic recovery, when it came, was a reward for austerity
The article then looked at how the government sponsored the idea with the media, taken up by the BBC, that the IMF had to apologize about getting the UK’s forecasts wrong and criticizing excessive austerity – all of this to deflect attention from the government’s risky Help to Buy policy.
It seriously worries me that the government’s risky economic policy has not been challenged more vigorously.
Let me turn this to an open question:
Is this evidence to support a Biderburg type conspiracy of the government, sectors of the UK media and the IMF?