How the economy works in plain language and why it cannot be likened to a household budget.
by Martin Odoni
I should know better than to watch BBC Question Time. I have largely stopped watching it, especially over the last two years, as I have become fed up of its thinly-veiled bias – its tendency to give incredibly disproportionate exposure to members of the UK Independence Party in particular – and its considerable dumbing-down since the late-1990’s. Habitually inviting pop-culture celebrities, where once it might have included scientists or public workers, often lends the programme an air of triviality.
But today I decided to give last night’s episode a viewing on iPlayer , and yes, it was a mistake, as I was soon listening to one of the most obtuse audience-members Question Time has ever had.
He said, as follows; –
Economics is really simple. I’ve got ten pounds in my pocket. If I go out and buy three pints of beer in Cambridge, I’m probably…
View original post 1,235 more words