I am sure the MPC appreciates the theory of the velocity of money and the effect increasing the money supply will have. If I can, then I am sure Mervyn King does. Which begs the question, why did they launch more QE, even sooner than expected? I work in the property sector and in the last two months bank funding for property investment and development has completely dried up. It is like 2008 all over again. Things have got suddenly much, much worse. This has yet to show in the GDP and money supply figures, and won't be apparent for at least a quarter.
Sir Rob Fry may relish our future leaders coming from the “disciplines of the wars” but this will bring us structure and tradition when we are looking for radical thinking and innovation. Think Steve Jobs instead.