Category Archives

Category : borrowing


How bad is this recession?

A number of commentators have pointed out that this is the slowest recovery from recession in more than a hundred year. Taking output measures this is correct. But taking employment as the main measure of recession it is not. Both the 1980s and the 1990s saw much sharper job losses, while the 1970s recession saw…

To Borrow or not to Borrow?

The ICAEW (the accountants) had a conference on securing public finances on Tuesday. They published a document including my contribution in Securing the Public Finances. It is comforting that a consensus is emerging that we need to develop a new approach to public services with much better transparency and accountability that we presently have. Whether…