The UK seems to be enjoying a golden age of macroeconomic policy-making. Growth is steady; inflation is low and stable, and unemployment is low. After years of trying to achieve economic stability we seem to have found the answer. This paper explores the history of policy-making from the late...

How would you respond to a group of high school students when asked “What do economists know?â€. Alan Budd’s answers will be familiar to readers of World Economics but bear repeating. Economics, unlike, say, Physics, tends to attract beliefs and opinions by non-specialists held...