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14th January 2013
November saw a welcome return visit of the college’s favourite economic guru, Ian Morley. Deciding that his intended topic – the potential for economic Armageddon – was just too depressing, instead he focussed on the relative merits of austerity – as favoured by the UK government – and increased public spending as is occurring in other economies – notably China and Japan – as the best way to ‘kick-start’ economies around the world.
This was followed by a consideration of two important issues underpinning the debate – namely the ‘pensions time-bomb’ which we have recently seen the UK government take the first faltering steps in addressing and the growing levels of government debt around the world.
As is so often the case in economics, there is never one ‘right’ answer but by understanding the implications more thoroughly, it should help us make better decisions in the long run.
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