The alternative to this poor government…

… must be better of course. I’m not usually political but it has to be raised that the UK Tories are saying the answers to the recessions come from a failed economist that was even fired by Nixon.
Good summary of thjis in today’s Independent
extract…
‘…two weeks ago, Cameron, when asked about whether the government’s proposals to increase taxes on the richest one percent would raise more money for the Treasury replied, “It’s a very difficult calculation about where we are on the Laffer Curve… We have to put this [top rate of tax] in a queue of things we would want to get rid of… and I’m always interested in topping up my study of Laffer.”
To most people, this sounds like gibberish. Who is this “Laffer” who Cameron is turning to as the measure of whether tax policy works?
Arthur Laffer is an economist who was fired from the Nixon administration in disgrace and went on to invent a false economic theory. He was picked out by the Watergate-wet Richard Nixon when he made a prediction about economic growth that was way ahead of every other economist. Nixon put it into every speech – until it was revealed that, while other economists had used thousands of variables to arrived at their predictions, Laffer had used just four – and got it totally wrong. He was fired, and that should have been the end of him.
But Laffer was befriended by Dick Cheney, and in 1974 they invented an economic theory on the back of a cocktail napkin – literally…’

I know the current political leaders are failing on so many levels but that does not always mean the alternative is better.