What's more, members of the bank's Monetary Policy Committee have made it clear during the past couple of weeks that yet more bond-buying could be in the cards when the current roundends, especially if the euro-zone crisis keeps pressure on the U.K. economy.
The second round of quantitative easing ends this month, and there is debate on whether the jobs data will give the Fed a reason to continue to buy back bonds.
Whether those copies are crops on a farm in the Midwest or hot DVDs on the sidewalks of New York City, the principle is the same, and so are the consequences: When one free rider skims off the top, everyone else ends up paying more, and innovators get less to invest in the next round of innovation.
He urged ministers to press the Bank of England to deliver another round of quantitative easing, and to ensure that the money is "put to productive ends" this time instead of boosting bank profits.