The UK’s in a total mess. Rewriting the Bank of England’s mandate might be a good place to start if we want to begin putting it right

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Some people say that words don’t matter.

Others might say that playing around with them might not change much when we’re in a total mess.

But I would disagree.

Words are there at times of crisis to say what really matters to us.

The Bank of England’s mandate is the only real summary of economic policy that the U.K. has. And it says that all that matters is the prevention of the wealth of a few being depleted by inflation.

That never was a basis for running an economic policy.

It most certainly is not what we need now.

In this video I argue for an alternative.

And yes, I think a few words would make all the difference now.