Thursday, 21 December 2006

The British economy

According to the IMF, the British economy is presently "impressive". Granted, economic growth may be steady, inflation may be relatively low, unemployment is low and the balance of payments is sustainable. Still, I'd like to see a move away from statist economic policies.

What we need are the following:

- a move away from economic growth. Let individuals choose if they want greater standards of living.

- Abolish sterling and permit private companies to produce commodity backed currency.

- Abolish the Bank of England and let the market determine interest rates.

- Cease and repeal all regulations and taxes on business.

- Stop monitoring inflation and abolish the CPI, RPI and RPIX.

- Repeal the income tax. The UK isn't at war with France any more, and Napeleon died long ago.

The implementation of these measures would lead to a far freer and more prosperous economy. If only Gordon Brown would read von Mises, Hazlitt or Rothbard instead of adhering to statist pap...