The Great Debate UK
– Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -
“The most exciting race in years”. “It’s going to go down to the line.” “The old order has truly been upset.”
The General Election or the climax of the premiership season? Blues or Reds? Does it matter? The breathless hype from the media, the whining about unfairness from the also-rans, the ducking and diving, the spin-doctoring and financial shenanigans and, most of all, the breathtaking dishonesty of the main protagonists – they’re all there at the top of English football as much as at the top of (British) politics.
There is one other thing they have in common too. In both cases, the excitement of the climax hides the same dismal reality. In our politics as in our club football, the country is plumbing new depths. The difference is that next year, in all probability, the Premiership will again be the best league in the world, whereas our politics is only going to get worse.
In “Verdict on the Crash” we argue that government failure and not market failure is responsible for the collapse in financial markets.