The IMF's new report on the UK is totally contradictory in its prescriptions. The fact is conventional economics has no clue about how to deal with the 21st century economy.
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It’s quite amazing how relevant and important the IMF is when it suggest things that align with your opinions, but you are very quick to write off their credibility when they produce answers that you don’t like because they contradict your views.
This doesn’t appear to be a very consistent approach…
The wisdom to decide on what is and is not important is, I think, quite a significant skill to learn in life
Most neoliberals never get near it
Inconvenient Truth,
For what it’s worth, my understanding was that Richard considers certain of the IMF’s statements/publications to be relevant and interesting, rather than the organisation itself. Similarly, it seems to be the credibility of the models and assumptions upon which this report is based that he is questioning.
Regardless of whether I’m right on that, the corollary to your point about consistency would seem to be that one should identify organisations one likes and agree completely – or proclaim complete agreement – with everything they say and do. I would have thought that most people would agree that being consistent to one’s own beliefs and values (allowing for the fact that one’s beliefs and values can legitimately change over time) is more important than such consistency with/loyalty to a particular organisation.
Zacchaeus
Zaccheus
Inconvenient would have me like the football fan who never once criticised their own team
I am not sure that such a fan has ever existed, certainly if they understood anything about football
Blind faith is not a virtue
Richard
Inconvenient-why to assume that consistency is a positive attribute? We are where we are now through dogged consistency! We need flexibility and an openness of mind to occasionally see that the goals we obsess about might not be the best ones.
That’s quite different to cherry-picking anything an organisation says when it seems to align with your views and then castigating that same organisation when they produce anything to the contrary…
You really lack comprehension, don’t you
Do you have a clue of what anyone has said to you?
I like Michael Rowbotham’s description of monetarism:
” This method of controlling banks, inflation and the money supply certainly works; it works in the way a sledgehammer works at carving up a roast chicken. An economy dependent upon borrowing to supply money, strapped to a financial system in which both debt and the money supply are logically bound to escalate, is punished for the borrowing it has been forced to undertake.”