IEA Wonks Welcome Orange Bookers

With bookies making a hung parliament favourite, Cameron is being nicer to LibDems. The wooing of the Orange Bookers has spread even to the Institute of Economic Affairs, where the keepers of the Thatcherite flame are having a shindig to mark the 25th anniversary of 364 economists getting it wrong. David Laws from the LibDems will be there on the panel.

For those who can’t remember this is what 364 Keynesian economists wrote to The Times.

“We, who are all present or retired members of the economics staffs of British universities, are convinced that:
a) there is no basis in economic theory or supporting evidence for the Government’s belief that by deflating demand they will bring inflation permanently under control and thereby induce an automatic recovery in output and employment;
b) present politics will deepen the depression, erode the industrial base ofour economy and threaten its social and political stability;
c) there are alternative policies; and
d) the time has come to reject monetarist policies and consider urgently which alternative offers the best hope of sustained recovery.”

Guido won’t be there tonight because he still has the hangover from hell. Incidentally, has anyone seen my scooter?




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Quote of the Day

IDS responds to Juncker’s pints analogy earlier:

“Mr Juncker knows a little bit more about the bar than perhaps many of us do.”

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