Larry Elliott rightly sees the present panic a few “black hole” in public funding as demonstrating a basic misunderstanding of public economics (The UK financial system is about to be thrown right into a black gap – by its personal authorities, 2 November).
As he factors out, the widespread use of state cash creation (quantitative easing) after the monetary disaster of 2007-08 and the Covid pandemic basically challenges the fairytale that the general public sector is completely depending on personal…
