Archive for the 'economics' Category
I’m surprised more people didn’t pick this up, but the Guardian quietly confirmed all the rumours about cash points and BACS payments nearly not making it through the banking crisis. Here’s the story:
The Guardian has learnt that a year ago the City regulator was so concerned about customers’ fears over the soundness of RBS that [...]
More fake consensus. “It’s like a three ring circus in here!”
Here’s Chris Dillow, making the excellent point that the promises of cuts are significantly less than the average errors on forecasts of the budget balance. Here’s Samuel Brittan making the excellent point that the cure for the budget deficit is economic recovery. Here’s Economic Duncan [...]
If it’s possible to get Americans to start a string of minor riots in order not to have at least $80bn worth of national healthcare, surely it must be possible to start a good row about whatever it is the Conservatives have in store for us? We stand to lose at least that and more. [...]
John Quiggin blogs about his zombie economics book, specifically the chapter on the efficient market hypothesis. This can be summarised as the doctrine that the current price of a security contains all the publicly available information about it. There is a debate about the degree of predictive power this has and the scope of its [...]
Lynne Featherstone MP: for workers’ representation, against managerialism, for Iraqi employees. WIN.
More seriously, I’m increasingly convinced by the argument that the fundamental driver of the economic crisis is the falling labour share of national income. This was J.K. Galbraith’s take on the Great Depression; despite the roaring 20s, wages had been flat for years.
Living [...]
The oldest trick in the book of tatty British industry. When times turn tough, find anyone who’s been caught innovating, and sack them. Hence the Obscurer gets rid of Simon Caulkin’s management column, part of their generally excellent business section’ s highly reliable opinion page with William Keegan. But I suppose it leaves more space [...]
Just to finish off this gruelling series, I wanted to flag Kilcullen’s take on Afghanistan and opium. In short, his argument is that counter-insurgency and counter-narcotics in Afghanistan are identical; the poppy mostly grows where the Taliban are, it provides something up to 50% of the movement’s income, and it is anyway impossible to do [...]
Resistance – The Essence of the Islamist Revolution is Alistair Crooke’s survey of modern Islamist thought. It would be clearer to say it is a couple of books occupying the same space; one would be a history of Islamist thought since the origins of the Iranian Revolution, with a polemic for greater understanding of such [...]
Great post of Dan Lockton’s about what demand for energy actually is. Amory Lovins’ remark that no-one wants “energy”, they want cold beer, is of course another version of this. Which, once it had got together with this story about financing solar installation and marinated nicely in my del.icio.us queue for a while, made me [...]
Do you know those TV adverts for getting a really big loan to pay off all the other loans, with blue water and pretty girls, and very small print? Debt consolidation. That’s Francis Maude. That’s his job.
One of Prestbury’s appointed representatives, Clear Mortgages, encouraged customers to “mortgage up to the hilt in Spain” on [...]
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