Tuesday , July 17 2018
Home / Tim Watkins

Tim Watkins

How the left enabled Hitler

Nuremberg exhibition image

Given the current fashion for hurling the words “fascist” and “Nazi” at anyone we happen to disagree with, it is worth remembering that the Nazis were elected to government (as the largest party) in 1932.  Not that they would not have seized power by other means in future if need …

Read More »

When Scientists do economics

Science does economics

Volume one of Das Kapital was the final work produced by Karl Marx.  Volumes two and three were completed by Friedrich Engels from Marx’s notes.  According to the Grundrisse – literally the “blueprint” – Marx had intended to produce ten volumes that would describe how the industrial economy worked. The …

Read More »

What productivity “puzzle?”

UK labour productivity

Despite its usual economic cheer-leading, even the BBC is forced to lament that: “UK productivity shrank in the first quarter of the year and continues to lag rates achieved before the financial crisis in 2008… The Office for National Statistics said productivity fell by 0.4% compared to the final quarter …

Read More »

Britain’s final energy gamble

Nuclear power

These days, the UK government’s Business Secretary, Greg Clarke has the appearance of a man who has stared into the Abyss and seen the impermanence and futility of existence.  Just two years ago, when he was given a business brief that included the old department for energy and climate change, …

Read More »

How gas (and wind power) spoiled your beer

Beer CO2

It is something of a truism that rising energy prices cause inflation throughout the economy.  This is because while this is correct at the macro level, it tells us very little about the details.  Exactly who will shoulder the costs?  Which countries and which sectors of the economy will be …

Read More »

You’ve been Trumped

Trump Joker

There were two messages on the back of Melania Trump’s now famous jacket (no, one of them was not an Italian fascist slogan).  The first was the one aimed at the US media – “I really don’t care; do U?”  That is, in the age of 24 hour news and …

Read More »

The renewable road to extinction

Renewable road to extinction

When contemporary economists, politicians and journalists proclaimed the imminent arrival of “peak oil demand,” they were hardly espousing a new idea.  In fact, they were merely repeating an idea that was doing the rounds in the 1850s – an idea that was thoroughly debunked. In those days, it was coal …

Read More »

Universal Credit: more crackpot realism

Tory Foodbank

It surely cannot be long before the UK government’s hated Universal Credit reforms are put on hold.  The reform, which attempts to roll six existing benefits into one, has been blamed for increases in suicide, homelessness and use of foodbanks.  To add to the government’s problems a new report from …

Read More »

What is happening to the global elite?

American corporate flag

Public relations firm WPP is in the news today because of a shareholder revolt over the resignation of former CEO Martin Sorrell: “Almost a third of shareholders did not back the company’s pay and bonus scheme and almost 17% did not support the re-election of chairman Roberto Quarta. “Shareholders have …

Read More »

It’s employment Jim, but not as we know it

Future work in service

Unemployment is at its lowest since the early 1970s.  And yet, the economy is performing no better than it did in the early 1980s when the unemployment rate was 12 percent.  Crucially, despite the number of jobs created and the number of unfilled vacancies increasing, wages have actually fallen slightly …

Read More »