This think piece by economist David Simpson examines Gordon Brown's economic record, arguing that failures in the Labour government's monetary, fiscal and regulatory policy are responsible for the financial crisis and recession that have hit the UK economy over the past three years. As a result, says Simpson, the UK is condemned both to an effective standstill in the provision of public services and to increases in taxation that will affect all families, not just the rich.
In The Recession: Causes and Cures, economist David Simpson analyzes the current recession and the government's responses to it. He finds that the widely-held conventional view of the economic cycle – which suggests recessions are caused by external shocks and can be remedied by a government-applied stimulus – is inadequate in the present circumstances, and is leading policymakers both to misunderstand the causes of the crisis, and to advocate the wrong cures. This report examines the real causes of the recession, and suggests policiy opyions which could bring it more quickly to an end.