Economic truth is not to be found by burying one’s head in the sand

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Chris Giles is an economist working for the FT who famously got Piketty wrong. But he got his commentary on the main political parties of the UK right in the paper this morning when saying:

The deficit policies of both main parties blur into one. Forgetfulness or deceit, it does not matter. When the new government opens the books after the election and the truth comes out, voters will think their new rulers are a bunch of liars who were willing to say anything to get elected. They would be right.

Economic truth is not to be found by burying one's head in the sand, but that's what all politicians are doing.

The fact is that they can continue with austerity and keep trashing the UK. Or they can offer the sort of radical alternative I seek to outline here. But either way they should not lie. And right now Chris Giles is right in suggesting that is exactly what they're doing.