Political Currency EMQs: Nick Clegg as Chancellor?
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Jan 26, 2026 Breezy inside stories about 2010 coalition bargaining and whether Nick Clegg could have become chancellor. A lively debate on academics in policymaking and why US scholars often move into government more than British ones. Analysis of how many U-turns a government can survive and the political costs of reversals. A heated discussion on defections and whether lawmakers should trigger by-elections.
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Academic Walks Into The Treasury
- Paul Gregg arrived at the Treasury insisting he was there to see the Chancellor about the New Deal jobs programme.
- The story shows how academics like Gregg directly influenced practical policy in 1997.
UK Academia Lags In Policy Rotation
- British academia is less connected to policymaking than US universities, limiting practical policy input.
- George and Ed argue this weak rotation reduces useful government-academia cross-pollination.
Fix Mistakes Fast With Decisive U-Turns
- Avoid U-turns by getting policy right first; if needed, execute reversals quickly and decisively.
- A fast, well-run U-turn usually causes less long-term damage than lingering mistakes.