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Economy

What if growth cannot return?

Unsurprisingly it is the arguments underpinning today’s UK Budget which prove more informative than the Budget speech itself.  Indeed, there were no surprises in the Budget – most of the individual policy changes having been leaked in advance.  And with the exception of the rise in corporation tax from 19 …

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A failure of complexity

In my last post I outlined the growing disintegration[1] of London as an example of a failing global city.  Global, in the sense that it is part of a network of megacities around the planet, around which the fabric of the global economy is woven.  As the historic money launderer …

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London: the first global city to fail

The approved version of Britain’s recent history is that, after a period of economic dislocation and political extremism in the 1970s, the Thatcher government reinvigorated the economy; ushering in a period of rising prosperity which only petered out in 2008.  As Thatcher pointed out in 2002, her greatest achievement was …

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Economic mood swings

People who have spent time in jail claim that the hardest part of a sentence is the couple of months just prior to release.  So long as the release date had been long in the future, you just hunkered down and did the time.  But the pain of confinement grew …

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The Great train wreck

On a shelf in the office of Britain’s Cabinet Secretary is a folder labelled “infrastructure projects.”  It contains summaries of all of the projects for which public funding can be provided in the event of a recession.  At one end of the spectrum are various road and rail improvements – …

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Build Back Later

Unless you’ve been living on another planet for the last year, you cannot but help to have heard politicians using the phrase: Build Back Better.  This political bandwagon is borne out of desperation to find a way out of the mess they have created in responding, out of greed and …

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Seeing happy faces in the clouds

The third decade of the twenty-first century could turn out to be fantastic after all.  Emerging from the ashes and insanity of 2020, we are now set for a new age of peace and prosperity.  Who says so?  The Guardian’s energy correspondent, Jillian Ambrose: “The global economy could be on …

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When inflation refuses to appear

Inflation casts a long shadow over the political economy of the modern world.  So much so that the threat of its return is still given much more weight in governing circles than the fact of its absence for more than a decade.  The reason is best understood through the eyes of …

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It’s the third wave that sinks you

Harsh as it may sound, the retail and hospitality sector of the economy which has suffered most immediately under the Covid restrictions was also the least productive.  For those who follow conventional economic models, then, the damage currently being wrought on that sector is of little concern.  Shops and cafés …

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This doesn’t end well

Thousands of patients are queuing on trolleys in the corridors of overstretched hospitals.  NHS managers have appealed to the public to only seek hospital care in a genuine emergency.  Those genuine emergency patients have been told to take taxis to A&E because of a shortage of ambulances.  Meanwhile, ambulance paramedics …

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