The cult of subprime central bankers ¬´ Real-World Economics Review Blog. Dean Baker on the IMF, why they were wrong, why they are wrong and why they should be held accountable. I just have a suspicion it won’t happen though. Which is criminal.

From Larry Elliott in the Guardian today: Ultimately, the problem with the meta-narratives [such as free amrket capitalism and Europe] is that they don’t deliver. The postwar era of strong trade unions, full employment policies and capital controls produced stronger, more equitable growth than three decades of deregulation, liberalisation and flexible labour markets. The more
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It beggars belief that when everything in education is to be cut Michael Gove has the temerity to announce an exemption: the profit his friends may make from exploiting the state may increase – this time by running schools. I am appalled.

Some seem surprised I am so angry with David Laws. These letter writers to the Guardian would not be; especially the last who hits the nail on the head with remarkable succinctness: Even in Yeovil there are people who claim housing benefit, and local MP David Laws must have constituents who have been refused HB
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If Germany can’t stop the collapse of European hopes, who can? | Will Hutton | Comment is free | The Observer . Will Hutton is in sombre and appropriate mood in the Observer: The future of Europe is in the balance. The potential disintegration of the euro will be a first-order economic and political disaster.
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David Laws will bounce back from resignation, say senior Conservatives | Politics | guardian.co.uk . If there’s anyone mourning the end of one of the shortest cabinet careers ever I think they need to seek professional help. David Laws fulfilled all my expectations of the Orange Book Liberals: cold, ruthless, uncaring willingness to inflict harm
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Capital gains tax will not raise extra money, economists say – Telegraph. The Telegraph reports: The Adam Smith Institue, studing CGT changes in America from 1955 to 2006, has calculated that every time the rate was cut revenues went up, and every time. Now I wonder why they looked at the USA when the proposal
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Conventional Madness – Paul Krugman Blog – NYTimes.com. It’s comforting to find one’s self in the company of Martin Wolf and Paul Krugman in a day, both with regard to the madness of the OECD Economic Outlook report. As Krugman notes in the NYT: It’s a terrifying document. Why? Not because it offers a grim
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Government boycotts Question Time over Alastair Campbell appearance | Media | The Guardian . The ConDems really are proving themselves a) inept in the media b) very illiberal: The BBC has accused the government of political interference after it refused to provide a ministerial guest for Question Time unless Alastair Campbell was removed as a
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