Monday, October 08, 2007

Britons' disposable income plummets

"We are working harder, but we are not getting any wealthier. We are just running to stand still." is how one commentator put it. That analogy of the Red Queen from Alice in Wonderland has been used for so many different things that I relish each and every new application of it. So apt, the image of running at full pelt on a treadmill carrying you backwards just to remain stationary upon a spot on the ground.

Anyway, enough of my pretentious twoddle. The point is that, although economics remains a well-researched field with ample past records to guide those in charge of our current economy, they still can't get it right.

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