Wednesday, November 17, 2010
Bread and Circuses
We live in an age of bread and circuses, as did Juvenal. Actually I have no objection to "circuses" including royal ones. We all need cheering up. What I object to is the coming rationing of "bread". Despite all the noise about the government's deficit, Britain remains a wealthy country, but the wealth is concentrated. At a recent local discussion a nice comfortably-off lady (Somerset has more than its share) commented on benefit cuts, "Anyone can manage on £10 a week less". She's right of course - about people like herself. Conclusion - cut less, tax more. If you still think drastic cuts are the solution, read Skidelsky and somebody lend George Osborne an economics A-level textbook as Keynes' own writings may be a bit technical for him.