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OK, a couple of passages from that book I mentioned. It's called "Understanding the UK Economy" by Peter Curwen. This is from the second edition. First a critique on borrowing during hardship and paying back whilst in growth: "In fairness to Keynes, it should be said that his view of the...

Not my understanding on Keynsian economics, from a book I read: " I disagree with pretending to know things that I do not, so I'll confess that my knowledge of Keynsian economics in history is limited to a book I read - it's a neutrally positioned book just explaining the history of the UK...

Still there, just moved: FactCheck – Channel 4 News

That's all correct from my understanding. It's a pity they didn't pick up on the fact that the rate of interest on the debt would also rise; which IMO blows McDonnell's theories out of the water. So the debt rises and the rate rises, reducing the ability to spend without either increasing...

Keynes went out of fashion because of the impact on unemployment. In theory, if the country could afford it, I'd agree with you. But if the cost of realising the benefit exceeds the benefit itself then it's no longer a good thing, surely?

If debt were 40% of GDP and we were adding 1% on top I could agree with you. But it isn't, and I have explained why it's a bad idea now.

To comment on some of the things being said about the budget and by McDonnell: 1) House prices and stamp duty. Removing stamp duty for first time buyers will indeed over time increase house prices. This is why: house prices are all about supply and demand. They are high because demand...

Not deliberately implying it - who knows maybe? What I'm trying to say is that an opinion on whether it's a good thing economically or not is useless unless the economic benefits have been modelled and they know the results. Of course people can still argue over the parameters for the model...

He really is a fuckwit. God help us.

HS2 is infrastructure (replying to Clint). And taking the opinion of some bloke who lives near to the route as an expert voice doesn't cut it for me. I also know next to nothing about the economic benefits from a faster train service; although I'm pretty sure I could build a model I don't know...

There are huge investments in infrastructure (HS2 and crossrail) but they aren't there yet. But I agree. And yet the majority of the investment has to come from private commerce. I think the biggest factor is all tied up with low-skilled labour and pay. Because labour is cheap, firms have no...

They explained in their report why that was - productivity. These have been out for a while - read several articles over the last weekend on their predictions. They may be overly pessimistic - we will see.

Tony, if I thought for a second that you understood the economic environment that Hammond is facing, then I'd debate with you. As it is, I'll just point out that you complain constantly that not enough is being spent and then complain when more is spent, albeit without throwing everything into...

Agreed. The strangest thing I found was in a book containing prints of old household items and advertisements (I buy and sell books as well as reading). It was a publisher's copy and there was a note inside which had obviously been passed between staff in the publisher's office. It said that...

I don't usually watch, but I do love a bet on things like this and I'm back on Betfair exchange. Early thoughts are that Wise is too long at 18s so I've backed him and am shorting the woman from Corrie at 5s. I assume it's the people that come across as OK people that usually win?

Whilst I don't disagree with much of what you write, this sentence alone puts miles between our perceptions on subjects such as these.

I haven't seen it, but he was almost certainly referring to the economic definition of full employment. At any point in time, economic theory is that there will be some people between jobs and hence literal zero unemployment is not achievable. Full employment - Wikipedia

That is because my perception is that if the current government is scoring 3/10 then Corbyn would score -100. In my mind, at least, the two are incomparable.

Yeah, but tell us what you think about coming back from 1-0 down Jodi.

A matter of opinion, as I wrote before. However, I would say that they deserve more scrutiny, not less - as not one of them appears to understand finance and what they do could be the ruination of the country. Nobody here, I don't believe' is claiming that the current government is doing a...