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March 17, 2010 2:00 am
From Prof Steve H. Hanke.
Sir, The unflattering “pull quote” that accompanied Martin Wolf’s article “The British election that both sides deserve to lose” (March 12) asserts that “another term could be as damaging for Labour as was John Major’s surprise 1992 victory over Neil Kinnock for the Tories”.
For collectors of inverse ratios: during Mr Major’s tenure as prime minister, the UK’s economic performance (measured by inflation rates, unemployment rates and real gross domestic product growth) was very good – at least by post-second world war, UK standards.
Steve H. Hanke,
Johns Hopkins University,
Baltimore, MD, US
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