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)
“Toby Baxendale is an entrepreneur who built up, amongst other things, the UK's largest fresh fish supplier to the Food Service sector, see www.directseafoods.co.uk, and recently sold it. Toby is dedicated to furthering the teaching of the Austrian school of economics. He established and funded the 1st Distinguished Hayek Visiting Teaching Fellowship Program at the LSE in Honour of the Nobel Laureate F A Hayek. Toby is Chairman of The Cobden Centre. Richard Cobden's timeless principles of the abolition of legal privilege of the few at the expense of the many are worthy in this day and age to promote.