US economists Mark Zandi and Alan Blinder say in a new study that US bailout measures averted a worse financial crisis. Photograph: Brendan McDermid/Reuters To Washington conservatives they were egregious examples of “big government” overreach, but the White House’s economic stimulus and bailout policies have saved 8.5m jobs and averted a further slump of 6.5% [...]

Out of the picture … cuts will mean theatres are less able to invest in new plays like The Pitmen Painters, above, starring Michael Hodgson. Photograph: Tristram Kenton By any stretch of the imagination, British theatre since 1945 has gone through a golden age. Very rarely in world culture do conditions conspire to produce generation [...]

George Osborne: long-overdue attack on the Thatcherite and New Labour approach to the economy. Photograph: Leon Neal/AFP/Getty Images I have been so critical of George Osborne recently that it seems only fair to give credit to our new chancellor where credit is due. And, let’s face it, there is not a lot of credit about. [...]