Tuesday, October 11, 2011

The perils of macro-economic analysis


Sometimes you just can't win. Despite all the caveats I included, the fact that I said the headline was written to provoke, and stressing that this was a macro-economic analysis, I'm still accused by readers who have left comments on my last blog (Why the squeeze in living standards is very welcome) of being a heartless fool.


Oh dear. It seems that you cannot make a perfectly obvious point – that we are going through an inevitable and to the extent that the UK economy has to become more competitive, necessary economic adjustment – without it being taken the wrong way. The fact that some people are suffering more than others – well, it was ever thus, wasn't it?



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