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The Bank of England Independence Disaster

New Labour’s technocratic managerialism agenda involved ceding control of the Bank of England — a decision with profound consequences to this day. While unelected technocrats are able to hike interest rates and engineer economic slowdowns, workers will remain worse off.

Illustration by Simon Bailly / Sepia

As we move into a new year, the world’s economic forecasters are consulting their crystal balls, and the picture seems mixed. Most of the world’s largest financial institutions anticipate falls in both inflation and headline rates of economic growth for the advanced economies. Economists at Deutsche Bank predict recessions in both the US and the […]

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