Discussion on UK, Economics, and Finance.

 For far too long, many developed nations have faced poor allocation of their budget, with most reporting deficits for decades, leading to national debts to skyrocket, with the investors who help finance these budgets becoming weary that these bonds won't be paid off or worse, inflated away through increasing the money supply. The issue is not one that's even hidden; everyone who pays attention to these figures has been saying it for a long time. Our governments are too short-termistic. I have been reading Rationality by Pinker, and it had a really interesting section at the start of the book, which highlighted something to me. He brought up myopic preferences, which have implications on our whole financial system. He used examples from the famous Marshmallow experiment, where one is offered a marshmallow now or two in the future and raised the question of how far in the future the extra cost of a marshmallow would outweigh having the one now, or how many marshmallows would you...

 For a long time, economists have been looking at the economy as an aggregate; total GDP, economy-wide price level changes, total debt spending and so on. But there has been an ideological shift away from this type of thinking, with Economic thinkers categorising people into different groups based on different measurements, as these people experience the same economy in different ways - this has been very apparent recently; where the working class (those reliant on salaries) have felt a strong squeeze while the capitalist class (those that own assets) have been abel to ride out this struggle with much less pain or even benefiting. With Gary Stevenson pushing heavily for more policy to help with inequality, which many economists are critical of due to it not fitting into the paradigm of the models they have become accustomed to, yet many can see the impacts and realities of what he is talking about. Even the FED has highlighted the fact that the K-shaped economy is of importance. Th...