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Tag Archives: Economics

The reasons for my opposition to the EU

My opposition to the EU is essentially down to the fact that it works badly. Everything that the UK government does not do well at, the EU does even worse. Let me list some prominent examples… Single currency (Eurozone):Normally, an ailing economy’s currency depreciates, which encourages inward investment and domestic …

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Brexit tariff reduction

News has broken that in the event of “No Deal”, up to 90 % of tariffs will be removed. Confirmation seems to have come from a refusal to deny from Greg Clark, Business Secretary. Naturally, views have been expressed, from all political vantage points. The opposition can be expected to …

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State capitalism vs socialism vs communism

On an online exchange, a lefty illustrated the distinctions between those three concepts as such:State capitalism – private ownership with significant govt intervention.Socialism – democratic ownership of production.Communism – stateless, moneyless, classless society. Boiling it down to fundamentals, here are the distinctions according to their definitions:State capitalism – state? yes; private ownership? yesSocialism – state? …

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New Year Predictions for 2019

The most striking event of the past year and, in retrospect, of the decade, is the continuing rise of the Media Industry (Television, Film, News, Advertising, Social Media, Internet Sales, Computer Games etc).  It is now worth over $2 trillion worldwide.  In the UK alone it is worth about £100 bn.  This …

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Why Brexit will be fine – deal or no deal

Since the Referendum we can already see that wages are rising in real terms: The Referendum has brought us the highest level of real earnings since November 2010. According to the BBC article Wage Rises Accelerate to the Fastest Pace since 2008:  ‘Howard Archer, chief economic adviser to the EY Item …

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“Crashing out” of the EU – how big a crash?

The Bank of England published this graph showing the effect of leaving the EU with no deal in its report: EU withdrawal scenarios and monetary and financial stability: The graph is designed to look as scary as possible.  However, when we read the notes on page 53 we find this little …

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Eight days a week

I have been thinking about John McDonnel’s proposed four-day week. Obviously, I’d have got this piece out yesterday except it was one of my down days. I’m guessing the same excuse would become commonplace with clients demanding service – how dare they? The possibilities are endless: The production line, dispatch, …

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Financiers are not just “greedy bankers”

I would hazard a guess that most people have heard the refrain “greedy bankers” to denigrate the wealthy individuals who work in the financial sector. However, how many are actually aware of what these people do, and what role does investment banking actually play in the economy? Not ‘just’ greedy …

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Why Trade Deficits Must be Avoided

I have just finished reading yet another article on how Trade Deficits are harmless or even good for a country (The Trade Deficit Matters, But Not How You Think by Jeffrey Dorfman). Trade deficits happen when a country imports more than it exports, the excess imports need to be purchased …

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Are the Conservatives the Party of the Rich?

Writing for the Daily Globe UK several weeks ago, I sought to defend the current government in terms of policies which have impacted on the lowest paid in Britain. I defended the Conservative record and argued against the media narrative that the lowest paid have been hammered by a pernicious …

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Britain’s Post-Brexit Meritocracy

The 2017 general election showed that many young people are rejecting Conservativism and even capitalism itself. If we are to build a more socially mobile post-Brexit society we need to ensure that Margaret Thatcher’s popular capitalism can prevail once more. Employment and wage prospects can be significantly improved for the …

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Considering Project Fear’s No Deal Brexit Plans

Earlier last week, we found out that May had finally decided to get planning for a No Deal Brexit. This was something Brexiteers were very eager for – everybody felt that now, after two years, perhaps we could finally get somewhere and achieve what we had voted for. Perhaps now …

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The foolishness of Keynesian stimulus

The economics of Keynesian stimulus: Spend more money on public services than tax intake People earn more money and spend more money More money earnt and spent means more tax intake Result: win-win… right? Theory vs practice Assuming everyone is taxed at 40%, let’s see how this plays out… Under balanced …

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The Damaging Effect of EU Ownership of UK Industry

We have all read how Foreign and EU companies have been buying up UK companies (See Selling off Britain is not a sign of strength.. and Independent Article). How much does this cost the UK?  What does it cost you and me? Foreign owned UK companies accounted for 50% of all UK business turnover in …

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What is ‘affordable housing’?

I assume most people take ‘affordable housing’ to mean accommodation that is affordable, something that people on average levels of income are able to afford to buy. But let’s go back to basic economics: What determines the price of a property? Although there is a rough correlation in that, if …

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Trumponomics as a viable economic plan?

Donald J. Trump… The Hollow, The Pompous, The Taunting Peddler Aka The 45th President of The United States of America. A man continuously embroiled in controversies. Disclaimer Now let me make it clear, I do not condone any of Trump’s words or actions but for a while I, like many other, …

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