Funnily enough, Etatism doesn’t seem to enhance wealth creation or the production of enough tradeable goods to meet either the country’s direct needs, or those of its many overseas creditors — over to you, Mr Krugman!
UK MfG index v inverse of Govt component of GDP v private sector balance (Click to enlarge)
I read this article by Andy Haldane. http://www.theguardian.com/business/2015/sep/18/interest-rates-rise-bank-of-england-chief-economist-andy-haldane I value...