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In a speech to the London-based Legatum Institute, on Thursday of last week, David Davis MP set out “thoughts about the causes of the economic crisis, our responses, and the future threats.” Key extracts are republished below. The first simple fact is that the policy of the USA and UK allowed too much money into the economy, too cheaply, for too long. “You are probably all familiar with Minsky, but as a reminder, he said that the longer the growth period, the more you stretch the economic cycle, the more successful the most high-risk and aggressive financial companies will be.... Continue »