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Should politicians control the economy?

As we approach the next general election there are serious concerns that the UK government, and other governments around the world, will use taxpayers funds to shore up the economy in the short to medium term and offer "incentives" to those who may vote for them. While it will be the Labour government which will attract his attention in the short term there is no doubt that each and every government in the UK and around the world has in the past used economic performance, at least in the short term, to curry favour with voters.

The problem about politicians controlling the economy is the fact that when you vote in a government you give them complete control over government finances and effectively the economy. It is only natural for the party in power at any one time to reward their own supporters before the wider economy is considered. Historically the Labour Party has been very pro-union while the Conservative party has been very pro-business. Recently we have seen changes in the make-up of governments, with "new Labour" perhaps the more prominent example in recent history.

The truth is that we vote in the government of the day and we give them control and power over government finances and the economy. We don't complain when the economy is in a boom stage so what right do we have to complain when we see the other end of the cycle, where the difficult issues come to a head?

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