Growing, Growing, Gone: The Perils of Unquestioned Macroeconomic Dogma

sthOn a recent trip away, my travelling companions and I played poker to while away an idle hour. In deference to our poverty, we opted to gamble matchsticks instead of hard currency. At first each match represented, for the sake of verisimilitude, one GB pound. Then someone joked that we might as well make them worth a billion pounds apiece, so we could all feel like island-owning, Davos-attending, Dr. Evil-style oligarchs. We laughed and the game continued, each of us – the lucky/skilled ones at least – accumulating unimaginably vast fortunes in hyperinflated pinewood. Continue reading