Wednesday , January 26 2022
Home / Economy

Economy

This economy is going down

UK gas prices have fallen back this week – although they are still some 400 percent higher than at the start of 2021.  And the reasons for the fall in price should not breed complacency.  First, the arrival of a south-westerly airflow off the Atlantic has finally begun to spin …

Read More »

The hidden recession of 2020

After 20 months of economy-wrecking lockdowns and restrictions, 2019 is fondly remembered as a period of prosperous calm.  Memories though, are deceptive.  And in the days before we learned what gain-of-function meant, things were not as rosy as they now seem.  Although the decade 2009-2019 was officially one of the …

Read More »

Just don’t say you didn’t know

The arrival of the Omicron variant, just weeks before Christmas, has caused a large part of the establishment media and the neoliberal elite to salivate at the prospect of more lockdowns.  This despite early evidence that the variant is mild even though it appears even more transmissible than the Delta …

Read More »

Hogwash

In the early 1980s, to Margaret Thatcher’s annoyance, union reps and managers at the steelworks in Port Talbot agreed a strategy to save the plant.  As a result, Port Talbot was spared the post-industrial blight visited upon most of Britain’s ex-industrial towns.  Now in private hands, and despite periodic crises, …

Read More »

On health and shipping

It is mid-November, the autumn has been unusually mild, and the NHS has just declared its first crisis of the 2021-22 winter season.  Across the UK, emergency ambulance services are failing because ambulances which should be on station waiting to respond to emergencies like heart attacks, strokes and road traffic …

Read More »

A red light on the dashboard

On New Year’s Eve 2006-7, something unexpected happened.  For most of the previous two decades, most of the pubs where I live had operated a system where they gave tickets to regular drinkers in order to limit the number of people seeking entry.  This was a problem because one couldn’t …

Read More »

When they say money, think energy

The Indian government ruffled a few feathers at the COP this morning, by raising the thorny question of the £722bn they were supposed to receive to aid their transition away from fossil fuels.  Because, when all is said and done, the proposed transition is all about money.  Decommissioning the old …

Read More »

This is not 1997

Although introduced to the UK by a Labour government, the National Minimum Wage is closer to the Tory approach to economic policy.  This is because it passes the costs onto someone other than the state immediately.  In this case, Britain’s employers.  Labour governments, in contrast, have generally sought the politically …

Read More »

Closer to the edge

A closer look at the supposed explosion in job vacancies provides a clue to the deeper features of a crisis which is only just beginning. The first thing to note is that vacancies are far from even across the economy.

Read More »

What then are we to become?

According to Boris Johnson, the economic dislocation which appears to be gathering pace across the UK is merely “a period of adjustment after Brexit.” In Johnson’s formulation, those who would turn the clock back are tacitly in favour of the low-pay and poor working conditions which were encouraged when the …

Read More »