Molly gets her knuckles rapped for not including standard economic models in her university teaching, and wonders if the profession is disappearing up its own regression formula...
This budget season, and so a short perambulation around the vexed question of the national debt seems in order. As a nation we've been living with debt for more the 300 years now, since 1694 to be precise, when Scottish privateer William Paterson persuaded the government of the time that creating £1.2 million of IOUs would get them out of their spending difficulties.