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January 07, 2014

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Luis Enrique

hmm. What would you call "our best guess of what's going to happen if we leave things (policies etc.) as they are"? Because I think fiscal policy decisions should pay some attention to that.

SimonF

Yes, but the man on the Clapham Omnibus isn't going to want to listen to the argument, let alone want to understand it, when times are good and is going to want, quite reasonably IMHO, for those less fortunate to share in the good times.

That mythical man understands the argument that times are tough and that everyone has to share the pain.

At least that is what I suspect Osborne's polling is telling him.

Socialism in One Bedroom

The man on the Clapham Omnibus is a total cretin and so is his logic. A clear product of indoctrination.

But if he is mythical then what does it matter?


Observer

Just the one line that irritated you?

Keith

The Man on the Clapham Omnibus was always a fiction. It was a throw away line by a judge. I am sure the judge never consulted the man on the bus. But a imaginary common man agreeing with your reactionary ideas makes them ok.

Unless the man on the bus has studies macroeconomics I suspect consulting him about public spending is unprofitable. Just as putting some one like the chancellor in charge of it is folly.

rogerh

Perhaps this decision has nothing to do with economics and is all about politics and the election runup. A stake in the ground to make life awkward for Miliband. Win the election and things will magically change. Personally I doubt very much the deficit will be reduced by as much as Osborne says, for the reasons stated above. But many will be fooled. Anyway, what is the sweat about a hasty reduction, keeping the government poor focusses its mind wonderfully.

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