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We are frequently told that young people have never had it so bad. They can't get on the housing ladder and it's increasingly difficult to get a job. New unemployment statistics will be published n...ext week. But will they tell the whole story? Should the Government cut spending and raise taxes in order to cut the deficit or will doing so be counterproductive? It's a debate about what economists call the "fiscal multiplier". But what is a fiscal multiplier? A shocking graph showing how the education system allows untalented rich kids to overtake talented poor kids was used by the Government this week to demonstrate Britain's lack of social mobility. But some argue the graph is distorted by one of the oldest statistical problems of all.
Metadata describing this Open University audio programme
Series: More or less; Series 12
Episode 2
First transmission date: 2011-04-08
Original broadcast channel: BBC Radio 4
Published: 2011
Rights Statement: Rights owned or controlled by The Open University
Restrictions on use: This material can be used in accordance with The Open University conditions of use. A link to the conditions can be found at the bottom of all OU Digital Archive web pages.
Duration: 00:28:00
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Producer: Richard, Knight
Presenter: Tim Harford
Contributors: Hannah Barnes; Ray Barrell; Simon Briscow; Chris Giles; Chris Grayling; Tim Harford; Daniel Read
Publisher: BBC Open University
Subject terms: Economics; Mathematics; Statistics
Production number: PEH02011739/AAA
Available to public: no