I became a skeptic
after the EU* referendum in 1975. I had been beguiled in to voting Yes by all the great and the good and I don't need to go in to how that turned out for the purposes of this post. Suffice to say that what all the fools said would happen turned out to be true, in spades.
a person who questions the validity or authenticity of something purporting to be factual
So when I heard said MP I was reminded of this letter:
30 October 2010
Mr. James Fallows
National Correspondent, The Atlantic
Dear Mr. Fallows:
This afternoon on National Public Radio you proclaimed that “there is essentially no disagreement whatsoever” among economists that more stimulus spending is necessary today
You are misinformed.
Last year, hundreds of economists signed a petition, circulated by the Cato Institute, whose key clause reads “it is a triumph of hope over experience to believe that more government spending will help the U.S. today.” Among the economists who signed this petition in opposition to ‘stimulus’ spending are three Nobel laureates in economics (Edward Prescott, Vernon Smith, and my colleague James Buchanan). Others signers include Chicago’s Eugene and Sam , Harvard’s Jeffrey , Texas A&M’s Thomas Saving, Cornell’s Rick and Dean , University of Virginia’s Lee and Kenneth , Duke’s Michael and Edward Tower, University of Rochester’s Mark and Ronald Schmidt, Rutger’s Michael and Leo Troy, University of Southern California’s John and Kevin Murphy, and one of the world’s preeminent scholars of money and banking, Carnegie-Mellon’s Allan .
Perhaps these economists and the many others who’ signed this petition (including myself) – and who continue to speak out against what we believe to be the folly of ‘stimulus’ – are mistaken. But for you to announce publicly that there is “no disagreement whatsoever” among economists that more stimulus spending is desirable is so wildly inaccurate that it borders on being irresponsible.
Professor of Economics
George Mason University
Fairfax, VA 22030
OK, its about the US, but the same holds true for the UK.
I'm not an economist so won't go in to the arguments, but when someone from the ruling elite claims that all the experts support them its time to look for the doubters and listen to arguments very .
*Yes I know it wasn't the EU but those damned fools who warned us where it was going to end up