Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.
Tuesday, 10 July 2012
U.K. banks spent £92m last year on lobbying politicians.
And employed 800 people to do the lobbying. See here and here.
Just when you thought banks’s depraved behaviour couldn’t get any worse.
Though on second thoughts you can't really blame banks: they recognise a sucker when they see one.