By: Matthew Jones

Matthew Jones — Mon, 01 Aug 2022 08:52:14 +0000

It’s doubtless true that Brexit-related trade friction has aggravated inflation, but the effect is easily overstated. In reality, UK core inflation is little different to that of its competitors, and was in fact lower until recently; moreover much of the difference can be explained by the fact that Eurozone economies have intervened to keep energy prices low, thus reducing their headline inflation rate, but at the cost of soaring government debt. It should be remembered, for example, that French government debt is now a staggering 116% of GDP (versus 96% in the UK). Taken in the round, the UK isn’t much of an outlier, and actually looks quite respectable in terms of economic growth, government debt, unemployment and fiscal stability, whether measured over the last three years or even the last thirty. Forward-looking predictions (which have almost invariably proved wrong) have tended to be skewed by a pro-globalist bias which almost wants to see the UK fail in order to justify the continuation of an economic orthodoxy that has benefited the metropolitan elites at the cost of their fellow citizens. This isn’t to say that the UK doesn’t have problems – it does; many of them – but it is facile to imply (as many do) that these might be resolved if the UK rejoined the EU. In reality, such a course would be a recipe for decades of bitterness and political instability, and would almost certainly conclude with the UK leaving the EU again, quite possibly after a period of violence and civil unrest. I am no economist, but I think it’s fairly safe to say that this would not be good for the economy.

By: Dr Aanu Bhanwal

Dr Aanu Bhanwal — Mon, 11 Jul 2022 11:50:03 +0000

Very nicely described about inflation if you give more prescribed more it will be more helpful for me as i am doctrate in Economics as i want to update my knowledge fully

Comments on: Inflation is a supply-side problem

By: Matthew Jones

By: Dr Aanu Bhanwal