In a recent interview with the Financial Times, former Bank of England Governor Mark Carney made the striking claim that ‘in 2016 the British economy was 90% the size of Germany’s. Now it is less than 70%’. This claim is garbage, for two reasons. Unfortunately, it is just one of a tsunami of fake statistics … Continue reading What Mark Carney got wrong
Tag: exchange rates
Could Russian sanctions undermine the US dollar?
So, it’s official. The global rating agency S&P has determined that the Russian government has defaulted on part of its international debt. In itself, this is not as big a deal as it may sound. Nonetheless, the unusual circumstances have revived concerns about the future of the US dollar as the reserve currency of choice … Continue reading Could Russian sanctions undermine the US dollar?
Should we devalue the pound?
The Institute of Economic Affairs (IEA) often hosts debates in the form of short blogs where two economists respond either 'yes' or 'no' to a topical question. Here's a recent exchange between John Mills and myself. The hit to the UK economy and the public finances from the pandemic and the persistent weakness of both … Continue reading Should we devalue the pound?
Plain-speaking Economics 