This is the first in what I hope will be an extensive series of extracts from my forthcoming bestseller Dead Ideas from Live Economists 1. I’m inviting comments and suggestions from readers, with free copies of the book for the ten best. To avoid cluttering the home page, the substance will be over the fold, with only a short intro like this for each post.

Update The discussion has been very helpful, though a lot has more to do with what will come later. In this section, I’ve changed the para about Keynes speculative career a little.
[click to continue…]

Criminal gangs ‘costing UK £40bn’

by Chris Bertram on July 13, 2009

That’s “a headline”: at the BBC. So it would seem that they do rather less damage to the UK economy tham the various banking groups that needed rescuing ….