Lib Dem deputy leader Vince Cable’s path has gone beyond mere sainthood – to his financial omniscience we can now add his media omnipresence. In today’s Independent, he delivers a withering attack on what he terms ‘Osbornomics’ in, erm, honour of the Tories’ shadow chancellor.
First, Vince tries to pin down Boy George’s guiding economic philosophy:
The last Conservative government was led by people who had a clear sense of ideological direction and conviction. Mrs Thatcher was clearly influenced, directly or indirectly, by the ideas of Hayek – rolling back “the serfdom of the state”. Sir Geoffrey Howe and rising stars like Nigel Lawson had developed a response to the inflationary 1970s through the monetarist ideas of Milton Friedman and the Chicago School. It is very difficult to see any clear or consistent thread this time round.
However, he acknowledges Mr Osborne has publicly lauded one philosopher, one Adam Smith:
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