Not Quite What Bank Of England’s Andy Haldane Said About Social Media

The Telegraph tells us that this social media stuff is very dangerous indeed, it could lead to destabilisation of the economy. They take this from Andy Haldane of the Bank of England. Except that's really not quite what he...

Congrats To Renewable Energy – One Third Of US Households Struggle With Energy Bills

The US Energy Department has just released a report detailing how some one third of US households struggle to pay their energy bills. This isn't as much of a surprise as we might think given that energy policy these...

Trump’s Trade War With China – Fortune Gets The Analysis The Wrong Way Around

Having actually worked for one of the leading business magazines out there - sure, as a freelance but still - I can tell you that most of the staff are assailed by the same basic misunderstandings of business and...

Didn’t Rail Privatisation Do Well – The Network’s Bursting At The Seams

A common enough criticism of the privatisation of Britain's railways is that they're too crowded. That the system just has too many passengers. Which is a very strange criticism indeed - that lots of people are using something shows...

The Observer Attempts To Disprove Keynesian Economics

Given the manner in which The Observer generally thinks that governments should manage the economy through fiscal policy - a rough and crude description of Keynesian economics - it's a bit of a surprise to find them attempting to...

Bigger Firms Are More Productive And Pay Better Wages

We've long known this was true about manufacturing firms. There appears to be a process of internal negotiation whereby goo profits lead to higher pay for the workers. Or maybe it's that hiring better workers by paying better wages...

Official Statistics Are, You Know, Statistical Estimates….

We should all already know this but apparently some don't. From The Conversation: The problem with official statistics – and three ways to make them better What value do statistics really have when it comes to describing events in a country?...

Why Was Jim Crow The Law? Because Discrimination Is Costly, As Gary Becker Said

An interesting little historical question is, well, why was Jim Crow the law? If all white Southerners were racists then it wouldn't be necessary to have a law insisting that blacks be discriminated against. It would be possible to...

As Usual, World Economic Forum Gets Robots And AI Wrong Over Jobs

The World Economic Forum is that gathering of the Great and the Good that takes place at Davos each year. One good explanation for why the world is in the state it is is that the WEF, thus the...

Marty Feldstein Worries That We’ll Not Be Able To Deal With The Next Recession

It's entirely true that governments and central banks around the world don't have all that many tools left to try and deal with the next recession. We've not got a lot of fiscal space - national debts are well...

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Surprise! Robert Reich Sure Doesn’t Understand The US Economy

As Robert Reich keeps telling us allowing the Republicans to have any political power at all means entire doom for the US economy, only...