Kit McMahon

Kit McMahon was formerly Chairman of the Midland Bank, and before that Deputy Governor of the Bank of England.

Pound Foolish

Kit McMahon, 9 May 1996

In Politics and the Pound, Philip Stephens has produced a book which should be required reading for anyone aspiring to be either Chancellor or Prime Minister. Let’s hope Gordon Brown and Tony Blair are studying it carefully. They can legitimately enjoy the more egregious mistakes made by the Tories since 1979, but they should be sparing with their scorn. They should remember the errors of previous administrations; and be thankful they did not win the last election and inherit an ERM membership which they had supported when in opposition.



3 August 1995

In her review of Deirdre Le Faye’s edition of Jane Austen’s letters Terry Castle says: ‘It is a curious yet arresting phenomenon in the novels that so many of the final happy marriages seem designed not so much to bring about a union between hero and heroine as between the heroine and the hero’s sister.’ What is really curious and arresting, however, is that such a statement should be made...

Don’t shoot the economists

Kit McMahon, 26 May 1994

What are we to make of a book entitled The Death of Economics, the second half of which is called ‘Towards the Future of Economics’? Paul Ormerod’s book has already provoked excited reviews from people thrilled to have their prejudices against economists and economic forecasters confirmed by one of the profession, an economic forecaster himself for ten years, who proclaims in his Preface that conventional economics is ‘deeply flawed’, and that its prescriptions for the problems of inflation and unemployment are ‘at best misleading and at worst dangerously wrong’.

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