Saurabh Modi reviews the book ‘Land is a Big Deal: Why rent is too high, wages too low, and what we can do about it,’ and its proposal to levy a land value tax to make housing more affordable
It had an interesting headline ‘The Return of the Policy That Shall Not Be Named: The Principles of Industrial Policy’. There is now growing evidence that Lord Voldemort is back.
The sticker shock in January may well be a temporary blip because of higher cereal prices, or it could be a lesson in the fact that disinflation is rarely a neatly linear process. There will be reversals.
First, the interest costs of servicing this public debt leave the government with less money to spend on essential items such as infrastructure, the green transition, welfare programmes, defence and social security.