Duesenbury’s ratchet theorem

I came across this a long time ago, while studying for my a-levels, so thank you Mr Sidemouth, but I have not heard much about him since. While considering the Tories attempts to reduce the penurious universal credit payments, and my own experiences as I move into retirement I am reminded of the ratchet. Here are my notes … Continue reading “Duesenbury’s ratchet theorem”