I am a great believer in the law of unintended consequences. I saw that in the financial crisiswere people wanted to do things, and i could see the problem that would result if we were to do that. The big challenge for policy in the next decade is going to be to try to reconcile quite large shifts in the structure of our economy with the wish to maintain inflation at a low and stable level. And this idea that a prime minister should come out and talk in rather flippant terms about by two thousand and 50, we'll all be driving around electrical vehicles as if nothing will happen was a big mistake.
Former governor of the Bank of England Lord King, global economist Dr Dambisa Moyo and businessman Ian Livingstone join Senior Editor at the Economist Anne McElvoy to map out a road to economic recovery after the pandemic. Following UK Prime Minister Boris Johnson's warning of a new 'tidal wave' of Covid-19 cases in the coming weeks in the UK and beyond, we returned to this discussion from the Cliveden Literary Festival in October about what Operation Phoenix - rising from the ashes of the economic crisis - would actually mean.
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