BBC BLOGS - Stephanomics « Previous | Main | Next »  Count it,
don't follow it  Post categories:  Stephanie Flanders | 16:44 UK
time, Thursday, 14 May 2009  Economists have one simple idea to
contribute to the MP expenses saga. You never know, it might
change the way you think about the whole thing.  Houses of
Parliament   Put it even more simply, if you give someone £100
to buy a chair, you can't say for sure that he bought a chair
with your money - even if he shows you the chair, and a receipt.
All you can say for sure is that you made him £100 better off,
and he has bought a new chair.  This might sound completely
obvious. Or completely stupid. Maybe both. It depends on how
much time you spend with economists (or lawyers). But this idea
of fungibility gives someone with an economist's frame of mind a
slightly different perspective on the revelations of the past
week.  Voters are understandably angry at the thought that MPs
might have been "playing the system" - and even more angry when
they appear to have