But, Putin did the unimaginable and launched a war of aggression in Europe. In the process, he showed that he, like almost everyone else, got all his calculations wrong.
So, folks with lots of power don’t have the information necessary to make the correct calculations. That’s a win one for Hayek right there.
The consequence has been clear for all to see. There have been so many ministers that it has been almost impossible to be sure who is in office. Those who are as the year closes are utterly incompetent. Their only plan is to see their term out. They otherwise are bereft of ideas, and have outsourced economic policy to the Bank of England, with dire consequences.
In the face of this total failure, which the public very obviously understands and blames on the government, Labour, should be riding high on ideas that could transform the country for a generation to come. It isn’t. No one really doubts that it will win the next election. The sane hope the majority is small because this is a party as wedded to economic orthodoxy, austerity and the outsourcing of power to the private sector as any in the neoliberal era.
Yes, yes, we know, cometh the hour, cometh the potato.
The application of the policy instruments designed to tackle inflation caused by excess income when the reality was that incomes were, for most people, too small to cope with this shock, will probably go down as the worst policy mistake of this year.
Yep, the whole world’s wrong.
There can be no forgiveness for getting something as basic as this wrong. Those pursuing these policies need to be swept from the economic policy-making arena, never to return.
Sweep the anti-solanum’s from the public stage. There is the one true tuber and glory will be his coming.
Blame chaos, incompetence and inflation that have between them reduced the ability to think of those who believe they are competent to govern to collective jelly.
Nowt wrong with the Prinzip that is, we’ve just not hailed the correct Gospodin into the corner office, have we?