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On averages, inequality, energy prices, global warming and the paradox of policy

On averages, inequality, energy prices, global warming and the paradox of policy

In January 2009 Sir Mervyn King, former Governor of the Bank of England, made a speech at a CBI dinner in Nottingham in which he discussed “the paradox of policy”. This speech was delivered at a time of was frenzied speculation and high anxiety over how policy makers were responding to the global financial crisis. He said: “This is the paradox of policy at present – almost any policy measure that is desirable now appears diametrically opposite to the direction…

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Was it just the cold or is it a relapse?

Was it just the cold or is it a relapse?

There are plenty of people, “experts” indeed, who fully expect a double-dip recession for both the economy and, for that matter, house prices. For them the data emerging for January’s performance appears to be, albeit gently, vindicating their position. They will no doubt seize with alacrity the retail figures from the British Retail Consortium showing the worst January sales data for 15 years. Those who take a different perspective will write the slump in sales off to the coldest January…

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