tag:blogger.com,1999:blog-2948538160252327076.post2616539292440994097..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: Sterling devaluation; it made things worse in Europe and did nothing to help the UK economyAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2948538160252327076.post-54330341650721180712012-04-16T15:20:42.438+01:002012-04-16T15:20:42.438+01:00there is iron law in economics; as soon as stable ...<i>there is iron law in economics; as soon as stable relationship between two variables, it falls apart. </i><br /><br />Huh?<br /><br /><i> Exports haven't really benefited from the lower value of sterling. Import prices rose sharply </i><br /><br />I'm pretty sure I read somewhere that our exporters collectively chose to increase profits rather than market share.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-66603027909683533912012-04-16T07:51:21.768+01:002012-04-16T07:51:21.768+01:00". In summary, the devaluation was a complete...". In summary, the devaluation was a complete failure"<br /><br />Well, I'm not an economist and I'm suffering from a complete lack of sleep to boot, but..."a complete failure"? In comparison to what exactly? How do we know it was not relatively speaking a complete success compared to the theoretical outcome of any postulated alternative?<br /><br />Just asking out of ignorance.Stevie b.https://www.blogger.com/profile/11427759744381570329noreply@blogger.com