Telegraph: David Blanchflower not the blooming sage they make him out to be

By Liam Halligan – "Blanchflower joined the MPC in June 2006. From then on he regularly called for the Bank to lower borrowing costs into the face of high and rising inflation – and was generally the only dissenting voice. So he became closely associated with the notion that if you've got a problem, all you need to do is cut rates. Blanchflower says he called for deep cuts as he feared recession and wanted the Bank to "get ahead of the curve. I think that's misguided. Low rates helped cause this crisis, and slashing rates almost to zero since has, in my view, done more damage still. Both monetary and fiscal policy in the UK are now wildly expansionary – to an extent that is extremely counter-productive. Our current policy stance is storing up enormous future problems."