The Price Of Dog Skins In N Korea – Or PPP Exchange Rates

North Korea has a slightly odd method of asking that citizens contribute to the welfare of the State. Contribute there being used in its taxation, confiscatory, form. Given that dog meat is a regular enough portion of the diet...

US Economy Adds 230,000 Jobs – Trump’s Tax Cuts Take Effect

The United States economy has added 230,000 jobs in September in the private sector, well above consensus estimates. It probably is right to say that this is a result of Donald Trump's tax cuts - it's the reason why...

And The Bourgeoisie Shall Inherit The Earth – Half Of Humans Now Middle Class

This is the one great achievement of the last half century. It is entirely and absolutely astonishing, we've just seen the biggest reduction in absolute poverty in the entire history of our species. And it's not just that people...

The Bank Of England Announces That Public Sector Pay Just Rose

The Bank of England – more accurately, someone from it, Gertjan Vlieghe – has good news for public sector employees. Their compensation for turning up to work has just gone up. Equally, bad news for private sector workers for...

Italy Tries Keynesian Economics – It’s A Disaster!

A useful test of anyone's beliefs is their consistency. Only if the same thing is said when my side is doing it as when your side is should we be taking the belief itself seriously - otherwise it's just...

Just How Much Inequality Is Unfair?

A valiant attempt to measure how much of it is. But the problem is, as thy admit, that how much inequality there should be in the first place is entirely normative. It's a "should." and what that should be...

Communist China Understands Trade Better Than Donald Trump

Not that this is all that much of a surprise, absolutely everyone viewing Trump's decisions on trade knows more than he does. A little extreme perhaps but as long as The Donald is taking his views from Peter Navarro...

The Insignificance Of Labour’s Worker Equity Fund Proposal

Would be socialists and redistributionists are just clapping their hands with glee at this idea from John McDonnell. Companies with more than 250 employees should be putting 10% of equity into a fund that would go to the workers....

It Irks To Take Danny Blanchflower Seriously And Yet

It's possible that Blanchflower does have a point here, even if it's not the one he thinks it is. The consideration of this new paper of his is elsewhere: But the fact nairu has fallen should be seen as a...

A Rise In The Price Of Gold Kills Baby Girls In India

This isn't what we' want to be happening but then economics is a normative, not positive, science. It describes what happens, not what ought to. Given the long standing concerns about "missing girls" it's not a r#surprise that this...

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House Of Lords Regional Diversity – Bring Back The Hereditaries

The Electoral Reform Society is having a whine about the manner in which the House of Lords is dominated by London centric over achievers...