IMF rationale

Implicit in Ellis Thorpe’s response to my letter (Letters, 23 July) is the idea that the very existence of the IMF is economically irrational. This is correct.

By The Newsroom

Published 24th Jul 2015, 01:00 BST

The IMF is based on the false idea that a free lunch, in the form of state intervention, is possible. Keynesian economics is based on the same falsehood and must be rejected for the same reason.

Bruce Crichton

Victoria Road

Falkirk