Eating the seed corn

If you live in the United Kingdom and turn on the BBC you will have heard a great deal of news about “cutbacks” and the hardship that they will cause. In truth, they will cause hardship in the public sector; most of the private sector has already suffered the pain. Our Prime Minister, Mr Cameron, apparently thinks that the BBC spends most of its news concentrating on the hardship that cuts will bring rather than the reason for the cuts that are occurring. Continue reading