In today's City AM, newly-minted ASI fellow Lars Christensen (aka The Market Monetarist) writes on the 'Carney rule'. The Carney announcement is a tiny step in the right direction, he says, but as long as the 'wise men' of the Monetary Policy Committee are running monetary policy, policy will be erratic and unpredictable, preventing adequate planning by firms and adding to market panic in economic downturns.
Recently I wrote about the problem of political ignorance: most voters don't know much about political issues, and most of the informed elite is also very closed-minded. Today we have an example of the worst of both worlds.
The public is ignorant about politics and lacks even the basic facts that it would need to make sound judgments about political issues. A new poll by Ipsos-MORI shows just how deep this ignorance is. Among other things, the poll found that:
Home insulation promoted by the government may end up killing old people in their homes, apparently (hat-tip to Chris Snowdon):
Prof Chris Goodier, of Loughborough University's department of civil and building engineering, said it was vital that homes in the UK better insulated to help meet carbon emission targets and save on winter fuel bills.
The Joseph Rowntree Foundation (JRF) has a new report out today that takes a look at living costs for the poor and the cost of achieving a 'socially acceptable standard of living' in modern Britain. The report continues their excellent approach to poverty measurement, which looks at the cost of a basket of goods that most people would consider necessary to have a decent standard of living.