Re: Starting figures are well out
Using this analogy I expect our thieving pals in the City would have dipped-into someone else's savings to buy half a dozen battery-farmed eggs from Tesco that they knew would not hatch, then sold 250% of the shares in each egg on the basis that on maturity each egg would become 100 plump & delicious organic free-range self-basting roasting chickens.
The rest is smoke and mirrors, just like Tim Worstall's piece. Never mind the vast omissions, what about that old turkey: "the public sector ate my breakfast"? Who do you think does all the jobs that makes life tolerable in this country? Largely low-paid public sector workers: refuse collectors that prevent us from drowning in crap, hospital cleaners who make sure that we don't die horribly from MRSA if we're injured, transport workers who keep our cities from grinding to a halt with cars, carers who look after our parents.
Yes we all know about the horror stories in these various lines of work but they are largely caused by lack of investment in the people doing the work: wages, training, supportive management. If Tim Worstall has his way less money will be spent of these things and it will be a short walk to hell.