Bristol Festival of Economics with Vince Cable
@Bristol
12th November 2015
George Osborne may be a Euro sympathiser as his policy could
lead to the collapse of the British Pound currency.
UK is 2% of world economy but a shrinking proportion, with
just 1% of world population.
Macroeconomic policy:
As chief economist of Shell, Vince marshalled the attempts to
shape the world economy with 20 year plans to build up infrastructure for when the markets around the world matured
in order to profit.
In government the situation was much shallower, with 24 hour
news emergencies changing the situation all the time but still needed to think
20-30 years ahead. The long term plans are realised through short-term successes
in the financial markets.
Sir John Willets was #2 in BIS under Vince Cable.
Vince Cable is blaming China’s cash reserves for the low
interest rates around the world.
Andrew Holdane, #2 at the Bank of England, says in his
latest research paper that interest rates are lowest since the times of ancient
Babylonia!
- · Economic growth is needed to reduce poverty
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