A view of Britain at the economic crossroads

Article Abstract:

The UK's economy has reasonable prospects for recovery under chancellor Kenneth Clarke, according to Prof Patrick Minford, one of the country's leading right-wing economists. He particularly welcomes the chancellor's decision not to raise base rates. There are now signs that the government is starting to realise the mistakes it made in abolishing almost the advantages gained under the administration of Margaret Thatcher on the supply side of the economy.

Economic policy, Interview, Minford, Patrick

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When proven economic theory falls flat on its face

Article Abstract:

Economic theory indicates that economic choices are predictable if a consistent set of preferences is given. However, this has been shown to not be the case in practice. This can create a number of problems relating to public policy in areas such as transport and the environment. People make inconsistent responses in test situations, and are unwilling to change these responses when the inconsistencies are pointed out to them.

Consumer preferences

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Lessons of history add perspective to Africa's economic woes

Article Abstract:

The possible ways in which the history of economic change can explain Africa's economic problems are considered. It is argued that culture is not a reason for Africa's weak economic performance.

Africa, Economic aspects, Economics

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