Why governments make poor economic choices
Governments take a populist turn in economic policymaking for different reasonsprimarily because they think it is a formula for success in elections
My most recent column interrogated the putative relationship between good economics and good politics, suggesting that we have reason to be sceptical of the oft-repeated claim that there is a causal relationship between the two. Good economics, in short, may or may not be good politics. It falls, therefore, on incumbent politicians to pursue good economic policies, if they choose to, not purely looking at short-term electoral calculus, but taking the long view.