very good analysis by Chandran Kukathas (IEA Academic Advisory Council member and LSE professor of political theory) of Russell Brand. I especially liked: Brand: Cancelling personal debt would stimulate the economy more than any ‘too big to fail’ bank quantitative easing.” Chandran: “cancelling personal debt is very good for debtors and very bad for creditors. I would love my mortgage debt to be cancelled, I would then have plenty more money. But those people who deposited their money in the bank from which I borrowed would have less or nothing. Brand: The economy is just a metaphorical device. It’s not real, that’s why it’s got the word ‘con’ in it. Chandran: There is some truth in this. That’s why Mr Brand should not have talked about stimulating it. I think that Chandran is too generous when he says that he is sure Brands heart is in the right place. There is no evidence for that at all.
Posted on: Fri, 31 Oct 2014 13:57:53 +0000
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