No political theory can explain the dysfunction of our institutions. Perhaps they’ve just gotten so big that they don’t care about what policies are imposed.
Whenever exchange rates and the nature of money itself become a problem, leaders meet somewhere swanky to rewrite the rules of the global monetary system.
Expensive green energy is not going to unleash another bout of inflation, just as the pandemic’s supply chain crisis wasn’t the true cause of the first.
Having harangued Liz Truss out of office for her mini budget, Labour are now walking a fine line themselves. Will the cost of going green be their undoing?
The world is taking economic growth for granted. There have been very few periods of sustained decline in living standards. But we may be on the cusp of one for two reasons.