Britain’s least valuable coin is in terminal decline
Inflation is the prime culprit for the problems of the penny
For many centuries using Britain’s currency demanded advanced arithmetic skills. The pound was divided into 20 shillings; a shilling into 12 pennies; and each penny further subdivided into two halfpennies or four farthings. Many argued for a less complex system. As early as 1696 Christopher Wren was arguing that a decimal system would be “very proper for accounts”.
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This article appeared in the Britain section of the print edition under the headline “Penny slain”
Britain January 27th 2024
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- How to transport a rhino
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- The ethical quagmire of a fetus-harming epilepsy drug
- Britain’s least valuable coin is in terminal decline
- Britain’s council tax is arbitrary, regressive and needs fixing
- Britain’s Labour Party is backed by a pro-growth coalition
From the January 27th 2024 edition
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