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Martin Ivens

Britain's Summer of Discontent Is a Tale of Bad Planning

The country is paying for its failure to prepare for supply shocks when times were good.



Photographer: Bloomberg/Bloomberg

Joseph told Pharaoh to use his seven years of plenty to prepare for the lean times to come. In Aesop’s fable, the grasshopper danced away the summer while the industrious ant prepared for a harsh winter.

Western leaders don’t lack for good advice from the classics, but clearly they don’t always take it.