Captain Moonlight: More Poncendogrot

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The Independent Online
YES, IT'S competition time again] Last week, remember, I asked you for a simple definition of post neo- classical endogenous growth theory (Poncendogrot), a concept dear Gordon Brown seems to feel needs no explanation and treats like an old friend even if it does baffle simple officers like yours truly. And well done, compers] A tremendous entry, some of which I understood. If I may paraphrase you all, what Gordon is going on about is the current thinking that growth and productivity can be affected by internal improvements through technology and education. Ian Bradley, of Newport, Shropshire, was unimpressed: 'The words seem to mean: 'A new theory of internally based growth following a revival of an old theory thought to be of great value in its time by those who revived it.' The economics seem to mean: 'same old protectionism with new jargon.' Gordon Brown seems to mean: 'I don't understand economics and I'm making damned sure no one else does.' ' Very good, Mr Bradley. Actually, I did invite Gordon to take part, but nothing ever arrived, although I noted he made a joke in a speech in Blackpool. Now a confession: there was an entry from a very impressive sounding economic unit in Cambridge which was a page long and contained this deathless damning of Poncendogrot and much else: 'That's all very fine in practice, but how does it work in theory?' So impressed was I by this that I took it home to show Mrs Moonlight and left it in the pub. Get in touch and you, like Mr Bradley, will be rewarded. The overall winner, though, is Dr Stephanie Rybak, of Milton Keynes: 'Post neo-classical endogenous growth theory? It's the hypothesis that seeing too many modern dress productions of Shakespeare gives you ulcers.' By the way, Gordon, could you have a word with Tony? He sent a letter to voters last week about Britain becoming 'more reliant on imports from other countries'. I have also had a late entry for my last competition asking for notable British tourism slogans. This one is 'London's London, but Biggar's Biggar.' Thank you.

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