Wednesday, 26 August 2015
Are you suffering from peoples’ QE-itis?
Peoples’ QE-itis is a rapidly spreading disease, which consists of an unhealthy desire to have the state print money and spend it on infrastructure projects.
The individual widely held responsible for introducing this disease to the country, Richard Murphy, has recently made matters worse by publishing a list of infrastructure projects suitable for PQE.
It’s certainly possible that more and better infrastucture makes sense – I’m not an expert on that. But its equally possible that hiring more nurses, doctors or teachers would make even more sense. Or perhaps priority should go to school books, or to the armed services, or fighting ISIS: the list of stuff to spend money one is just endless.
Moreover, I assume government have a rough idea on where best to spend extra resources: certainly opposition parties are not advocating a HUGE re-allocation of resources, like for example HALVING what we spend on education and DOUBLING what we spend on health.
A further problem is that there is already a shortage of skills required for infrastructure projects.
If you’re an enthusiastic supporter of PQE, you can help rid yourself of your misguided enthusiasm by pondering the above two points: first, why exactly should infrastructure take precedence over other types of spending, and two, where do skills come from for a big increase in infrastructure spending?
Failing that you could try attending the Richard Wilson Bloody Minded Disapproval of Everything school.