Financial Times reports that UK goverment borrowing spiralled out of control and is the worst in Britain's postwar history. In the past financial year, government borrowed 163.4bn GBP. In 2010, public sector net debt is expected to rise up to 53.8 percent of national income, up from 44 percent last year. Britain is in serious public debt crisis. That is why it is in an urgent need of the rebirth of Thatcherism and Reaganomics.
McCloskey on Comparative Advantage
16 hours ago