Closer to home, I'm hoping to write something soon about the current debate over the economy that's going on in the UK. But for now, I'l say this. There's a lot of talk at the moment about public spending cuts, but when you're trying to resuscitate the national economy, strangling the patient in his bed strikes me as a pretty ill-thought out idea. The question to ask now is whether the economy is being stimulated enough to recover. Balancing the books will be a lot harder if it doesn't. Then you have to ask yourself why - when the time does come to pay off Britain's debts - it should be public services that have to bear the burden. After all, accounts can be balanced by increasing revenue as well as by cutting expenditure. So why have increased taxes on the wealthy (or indeed, on the financial speculators that got us into this hole) not come onto the agenda? The answer has something to do, I would suggest, with who's pushing this spending cuts agenda - namely the Tories and the corporate press - and the fact that the elite economic interests they represent have no interest in picking up the tab for the mess made by the calamitous failure of their favorite economic dogma: Thatcherism.
For more on that, here's Polly Toynbee, John Lanchester, and David Blanchflower. I'll try and write something myself soon.