Black swans and the economic crisis
British capitalism is in big
trouble. The official annual inflation
rate has hit 3.3%, its highest level for 16 years. The governor of the Bank of England, Mervyn
King, has been forced to send a letter to the Chancellor of Exchequer, Alastair
Darling, to explain why the Bank has been unable to keep inflation from rising
at more than 2%, which is the target set by the government for the Bank.
