On Tuesday, April 25, 2023, Huw Pill, the Bank of England's chief economist, warned U.K. citizens that they need to accept that they are poorer and stop pushing for higher wages. "Yes, we're all worse off," he said, saying that seeking to offset rising prices with higher wages would only fuel more inflation. "So somehow in the U.K., someone needs to accept that they're worse off and stop trying to maintain their real spending power by bidding up prices, whether higher wages or passing energy costs through on to customers, et cetera." This was a somber assessment of the state...