Comments: G8 ignore economic perils at the summit

In all this clanour for a rate cut, which will grow houseprices further, what has happened to the economists - Patrick Minford famously amongst them, who used to cite double digit money growth as occuring now as the key predictive measure of an economy?
Where is the input of the monetarist economists now.

Was moeytarism just a mirage?

Posted by Tony Hanlon at July 3, 2005 04:28 PM

I've never understood why Russia is a member of the G8.

If the G5 (as it was in the 1970's) was founded to discuss economic issues, amongst the world's leading economic powers, then Russia cannot be considered a leading economic power. Russia's GDP equates with the Netherlands or Australia. Should those nations be invited to the G8?

If anything, China's status as not being a liberal democracy is of no relevance. It is a country that 'matters' economically. It should be a member of the G8, ahead of Russia.

Posted by Chris A at July 3, 2005 06:40 PM