My pet peeve is that two Heads of State named George crash landed their economies, when they could have landed them much more softly and the world would not have to change so much. George Bush crashed his America and George Brown his Britain.
A consequence of George Brown's failure to produce a soft landing will in my view at this moment in time (opinions change) be the loss of the UK Pound Sterling as an independent currency. As the pound weakens because the UK financial is inhibited from crisis creation a benign consequence could be for Britain to join the Euro system.
Had Britain been part of the Euro system, there might have been greater sensitivity to the forms of inflation that are socially divisive, namely the inflation of costs of operating and owning a family residence. As it now stands, George is unrepentant in his mistaken view that his lack of sufficient understanding of evolutionary economics was not the source of the crash landing of the British economy.
