1 July

If you think the world is divided between ‘planned’ economies, like China, and the ‘market economies’ like us where supply and demand and individual consumers in the ‘marketplace’ drive things, have a read of this superb short piece. It’s a fiction. Just as the Economy is a fiction. We’re as planned as the Chinese, it’s just that businesses do the planning instead of government. It also explains why we get inflation (it has nothing to do with how much we pay people).