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Alan's avatar

If Mr Baker raised problems with fiat money in discussions with colleagues in the Conservative Party what counterarguments was he given? What should the government do about out of control spending on the welfare state?

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David Jay's avatar

Steve, I think we (FFF, Jon Moynihan, and The Growth Commission for example) know what needs to be done to fix the broken economy.

A problem I foresee however, is that many of the solutions are long term in nature and the benefits will take time to filter through. Even short-term fixes may not be delivering positive outcomes until towards the end of a parliamentary cycle.

Do you agree with this assessment. If so, how do we overcome it and carry the public with us through what will undoubtedly be some very tough times.

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