Tuesday , January 26 2021

Tag Archives: Economics

Mark Carney’s first Reith Lecture

This morning I sat cuddled up with my dog to listen to the first Reith Lecture, given by Dr Mark Carney, the ex-Goldman Sachs, ex-Governor of the Bank of England.  It is one of the benefits of the current lockdown that we can sit in peace and broaden our minds. There …

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Foreign aid harms both Britain and those who receive it

There are two reasons for cutting foreign aid and indeed abolishing it entirely. The first is that we cannot afford it. The second is that it harms those who receive it. Since David Cameron came to power there in 2010, there has been no austerity at all in Britain. Public spending in …

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Fire and rehire

What is fire and rehire? And why does it happen? What is the effect of banning fire and rehire? Bad policies can make a bad situation much worse – we have to be careful to not let good intentions cloud our judgement. Driven by Labour MPs (of course), Parliament is …

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What’s the harm in feeding the poor?

What’s the harm in feeding the poor? Why can’t we just print more money and make everyone a little bit richer? What’s the harm in feeding the poor? What’s the harm in regularly giving people money, with no strings attached? Have you heard of the saying “give a man a …

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The SNP school of economics

There’s an Austrian school of economics. After Emma Harper an SNP MSP’s confusion about what a currency is, we obviously need an SNP school too. 1. In an independent Scotland we could make money from non-existent secret oil fields even if the price of oil can turn negative. 2. Scotland …

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The Fall of Empires

Empires rise because a group of people becomes more prosperous than their neighbours.  This enhanced prosperity is usually the result of the superior management of the economy, society and resources.  Relative prosperity gives the group the ability to project power. As can be seen from the graph below, we are …

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Slavery and British Wealth in the 18th and 19th Centuries

The Industrial Revolution occurred in the UK in the eighteenth and nineteenth centuries. How far was this due to slavery or other intrinsic factors? There is clear evidence that the Industrial Revolution has its roots in the early to mid eighteenth century. The world’s first, large iron bridge was built …

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Thatcherism – the only way forward

Margaret Thatcher once said that “there can be no liberty unless there is economic liberty.” She was right. For far too long before Margaret Thatcher took office there was very little economic liberty in the United Kingdom. We had relied on the same school of Keynesian Economic thought for much …

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Predictions for the Global and UK Economy

The IMF has recently released predictions for the economy.  It predicts a 3% fall in global GDP in 2020 and a 6.5% fall in the UK: The IMF is pessimistic about global recovery, apparently the economic recovery is beginning now, which is puzzling.   It is interesting that only a month ago, …

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After Coronavirus

In six months time, after huge numbers of deaths in the Middle East and elsewhere due to Covid-19 what will have changed? The retail industry will experience the biggest change.  Many small shops cannot survive months of shutdown.  Expect town centres to contract yet further as everyone learns how to …

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Rishi Sunak just killed Scottish nationalism

Twice now in the space of twelve years we have seen a British Chancellor do what it takes to save the British economy. In 2008 the Treasury bailed out the banks in 2020 it has just bailed out everyone else. Can any Chancellor prior to Rishi Sunak have had such …

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Fighting a Brexit Election

Now that Hammond and other Remain Tories are no longer setting the agenda the new Conservatives can have a tactical election for Brexit.  They can put tax cuts and other contentious issues aside.  This is a Brexit election.  Remainers will attempt to divert the campaign away from Brexit because they …

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Reasons for Independence

Many users of Social Media have stated that they cannot find any reason for Independence.  Here are some of the main reasons with links to further articles that explain them more fully. The immediate reason for Brexit is the Lisbon Treaty (2009) and the completion of the transitional arrangements that phased …

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Why does the UK import meat?

Why does the UK import and export meat? The world around us sparks up curiosities. Twitter is a mine for curiosity, throwing up some great questions which sometimes we take for granted. Recently, this question appeared: “Can someone explain to me why we import meat please?” Going beyond the brief, …

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No Deal Fake News

This article will provide clear, click through links to all of its source data.  Click on these links whenever you feel that you must check a source. First of all, what are the current economists’ predictions for the UK economy for 2019 to 2020? These predictions are all sourced, click …

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Don’t let Labour ruin Britain again

Governments are very powerful in Britain. The power of Parliament on the other hand is limited. It can pass or fail to pass laws and it can vote a Government down. Governments have been able to declare war and make peace without asking the opinion of Parliament. What this means …

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The economy, value of pound, trade in July 2019

The graphs below summarise the current state of the UK economy: The central, grey line is the Purchase Power Parity (PPP) of the pound – what the pound is really worth when buying things in the UK, this is the real value of the pound. The coloured lines show when …

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The No Deal predictions

Prior to considering any of the predictions for a No Deal Brexit it is worthwhile to get a sense of perspective about the role of the EU in the UK economy. In 2016 exports to the EU constituted only 12% of UK GDP. ( See Exports of Goods and Services to …

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