Tony Judt’s last book, Ill Fares the Land, dictated under the impact of his fatal motor-neurone illness, reflects on the crisis of politics. Societies are complex - he argues - and contain conflicting interests: To deny distinctions of class or wealth or influence is just a way to promote one set of interests above another.
The failure to directly help households has been a grievous policy error. Refinancing still viable mortgages would provide a big boost to the distressed corner of the household sector and purchases of state government bonds could help avoid cutbacks to state and local government employment
