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Tuesday, October 07, 2008

Three rules for government intervention in markets

Here are three rules which apply whatever party is in government - intervention in markets should be:
  • clear
  • decisive
  • contain at least some element of positive surprise
Governments are obviously concerned about the immediate situation right now, but urgent thinking is required about how our economy should be managed in future. This will prove to have been especially the case if any slowdown is longer than currently expected. It will turn out to be a key political issue. Labour Party policy work on this is required.

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