Economic truth

Alf Young (Perspective, 12 May) is right in criticising the “self-serving nonsense” in talk about the complexities of financial markets.

These are far removed from the realities of “repossessions, pay-day loans and chill winds in construction”. Quite simply, economic philosophy must free itself from the straitjacket of the mantras of neo-liberal economics.

A favourite among investment bankers, hedge fund managers and traders is “you can’t buck the market”.

Isn’t this “self-serving nonsense” when people are losing their jobs and houses and are even going hungry?

Now is the time to stop deifying financial markets before advanced economies have their “humanitarian” crisis.

Ellis Thorpe

Old Chapel Walk

Inverurie, Aberdeenshire