Daily Archives: April 22, 2014

Claire Jones

Undergraduate economics teaching has taken a (deserved) bashing since the crisis from some high-profile names in academia and officialdom. And, most importantly, the students themselves.

Among those leading the reform effort is an impressive group at the University of Manchester, the Post-Crash Economics Society. Today it has published a manifesto that is well worth a read for anyone with the slightest interest in why the discipline failed so spectacularly to spot the financial crisis.

The manifesto is all the more important as the group’s attempts to install an optional course on alternative theories on financial crises on the undergraduate syllabus were rejected earlier this month. The bashing, it appears, has not been bruising enough to trigger root-and-branch reform of the way economics is taught.  Read more

Emily Cadman

Despite politicians of all hue stressing the importance of business lending in rebalancing the economy, net lending to UK businesses has now been falling for nearly seven years, according to the Bank of England’s latest Trends in Lending report.

For consumers the picture is very different: mortgage lending is on the up, as is unsecured lending (such as credit cards).

But before assuming this means a consumer debt-fuelled recovery is underway, it is worth taking a look at how low levels are by historical standards – and signs business lending maybe starting to return.

 Read more