There is only one good, proven, way to organise a political economy in the modern world – and that’s via the Big Honest State. Right now, one key aspect of the BHS is under serious threat.
Why has the recovery from the financial crisis of 2008 been so slow? To answer that question, it helps to reflect on two items in the newly opened Citi Money Gallery at London’s British Museum. The first is a photograph of a two-tonne carved stone which once served as money on the Pacific island of Yap. The second is the exhibit of counterfeit notes and coins.
The headline could have come from a hundred places any time in the last hundred years. “Market has gone wild”, it read. The accompanying news report explains that the price of a crucial financial asset is in “free fall”. Traders and businessmen are calling on the government to step in.