Earlier this week, George Osborne named Lord Lawson as one of the economic thinkers who had influenced him. But the Chancellor’s mentor isn’t quite so impressed with some of his policies. Here’s his letter from this week’s Spectator on the ‘anomalous aid policy’ that the government is pursuing:
Sir: I was glad to see the excellent Acemoglu and Robinson article (‘Why aid fails’, 25 January) and your endnote recording that David Cameron has just declared their book, Why Nations Fail, to be one of his favourites. It is indeed an important book, which is why I quoted from it extensively in a House of Lords debate on overseas development aid in 2012. So it is a pity that he persists with the UK’s anomalous aid policy, which sees that area of public spending increasing while all others are being cut back.
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