Part of an ongoing “Economic Myths Debunked” series. I am going to be as brief as possible and use mostly diagrams. All data is from the Office of National Statistics, an independent body operating at arm’s length from Government as a non-ministerial department, directly accountable to Parliament. UK Balance of Payments under Labour The graph above shows that the… Read More


Part of an ongoing “Economic Myths Debunked” series. Economics is often portrayed as being independent, devoid of value judgements, and immune to ethical or ideological influence. Over the past thirty years our politicians and policymakers, many economists in the media, and most economics textbooks have encouraged us, in the words of Harvard professor Dani Rodrik (2009),  “to think of economics… Read More


The economic figures for the UK released on 1st May caused economists and not least the government to exhale a sigh of relief. The UK had narrowly avoided a third technical recession because ‘Gross Domestic Product’ (GDP) had grown by 0.3%. Not quite trebles all round, but perhaps at least a thumbs up at any… Read More