It's an old old story. If you're facing string economic pressures then something has to give. Interest rates and exchange rates work. But when changes in those are not available, you have to fall back on changes and reductions in nominal wages (as well as changes in real wages). Such changes are not a pretty sight in democratic nations.
The latest bank bailout is Her Majesty's version of AIG. Like it worked so well when it was just AIG without Her Maj, right?
So do we want nationalisation or nationalisation with due process?
After all, property rights are essential not just to liberty but to any pretence of a functioning economy.
You don't have to be entirely an Austrian to see that there are merits to certain Austrian ways of looking at events.
Just how independent is a "charity" with an income of £500,000 a year, less than £5,000 of which comes from voluntary donations?
And finally, past thoughts on geoengineering.
