Central banks have fooled themselves into thinking they have power over inflation
The failures of central banks around the world to anticipate and control the current upsurge in inflation are now apparent to all. What has been going on with the highly technical models which economists in these institutions build to try and explain inflation? If we look under the bonnet, we find a debate which is […]
We’re not reliving the 1970s yet, but today’s decisions will keep us out or drag us back
At the end of June 1975, the weather was hotting up. Indeed, August of that year proved to be the warmest ever recorded. Then, as now, there had been a massive rise in world energy prices. There was trouble on the railways, where the unions were in an aggressive mood. The TSSA union and ASLEF […]
Andrew Bailey fell asleep on inflation and now it is workers who will face the flames
Is there a comfortable chaise longue in the office of Andrew Bailey, Governor of the Bank of England? I think we should be told. Because it has become apparent that the Bank has been asleep on the job. In the year to December 2021, consumer prices rose by 5.4 per cent. We have to go […]
