17 June 2013

Historical economics

Larry Elliott in The Guardian has clearly been reading the novels of Hilary Mantel.  In a rather stretched analogy, he confuses the replacement of the Governor of the Bank of England with the politics of the Tudor era:
In recent months, King has become something of a Cardinal Wolsey figure: the elder statesman upon whom the young prince relied but who has fallen out of favour after years of devotion to the state. Wolsey failed to get Henry VIII his divorce from Catherine of Aragon; King has failed to get Osborne his economic recovery.
Carney is the Thomas Cromwell to King's Wolsey, and like Cromwell will be a force to be reckoned with. The Bank has seen its powers greatly enhanced as a result of the financial crisis, and is now responsible for financial stability as well as monetary policy. One of the new governor's first tasks will be to decide, after discussions with his colleagues on the monetary policy committee, whether the Bank wishes to give forward guidance about the likely path of interest rates.
I regret to say that I do not readily identify Slasher Osborne with the dashing and cultured young Henry VIII,  What I really want to know, however, is who gets to play the role of Ann Boleyn ...

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