Robert Skidelsky
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Welcome to my blog
Robert Skidelsky
Tuesday, September 21, 2010

 
Welcome to my blog! This is the place where I will be posting my ideas about the current economic crisis and many other things. I welcome your feedback.
  
I recently read a brilliant book by Ha Joon Chang called 23 Things They Don't Tell You About Capitalism. See my review in the New Statesman of 30 August and also on this website: http://www.skidelskyr.com/site/article/for-a-new-world-new-economics/. I’m working up a talk or column on ten fallacies in arguments for slashing the deficit currently doing the rounds of politicians and analysts. Can anyone provide a direct quote of a recent idiocy on this subject? I am compiling a list and would be exceptionally grateful for a contribution. Will keep you up-to-date with results. Here’s a couple of samples I’ve collected so far:
“All government borrowing is deferred taxation” (British Treasury Statement, July 2010).
“We must ensure that future generations can thrive without being burdened by the deadweight of our debt” (Liberal Democrat leader and Deputy Prime Minister Nick Clegg, Lib Dem Conference 20 September 2010).
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Comments:

By Ed Beaugard (Amherst, Massachusetts) on Tue 12 Oct 2010 - 18:14

I second Patricia Smith’s comment about your blog.
There are similiar quotes here in the US about “burdening our grandchildren with debts”, usually spoken by those who want to extend all the Bush tax cuts.
It will be interesting to see what the Republicans come up with to block the extension of unemployment benefits due to expire at the end of November. They opposed extending UI because it would add to the deficit, but now they’re all in favor of extending the Bush tax cuts which will add $1.7 trillion to deficit over the next ten years.
Should be entertaining, anyway.

By Alan Mason (England) on Wed 29 Sep 2010 - 5:15

http://www.guardian.co.uk/business/2010/sep/28/spend-save-economy-bank-england-chief
George Osborne is intent on spending reductions,whilst Charlie is telling us interest rates are being kept low in order to encourage us to spend, as opposed to save,in order to stimulate the economy

By Patricia Smith (New Zealand) on Thu 23 Sep 2010 - 17:52

I am so pleased you now have a blog.  I do so enjoy reading your articles. 
I can’t find the exact quote but our Reserve Bank Governor Alan Bollard said the other day, in response to a question about whether all the money that is being poured into Christchurch after our terrible earthquake would have a beneficial effect on the Christchurch economy, “if the economic growth turns out to be meaningful there would be a rational case for blowing up a city every few years”. He was quoting the Business Round Tables’ Roger Kerr.  As we all know War keeps an economy going (see USA). So logic tells me, that not withstanding the horror of the earthquake and it is horrible, all that money will help - certainly long time for people are staying home at the moment and not buying.  Or am I wrong and he is right?

 
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