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Economy

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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Just a fairy tale to deceive ourselves

Age is the most important factor in the current pandemic.  Put simply, once you pass 50, each additional year adds to the risk of your developing and succumbing to Covid-19.  But age may play a less obvious role in determining your relative risk – one that speaks volumes about the …

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When the dam breaks

In my last post I underestimated the speed with which the UK government would U-turn and plunge England into a second lockdown.  After all, just a fortnight ago Chancellor Rishi Sunak told MPs that even a two-week “circuit-breaker” would be enormously damaging to the UK economy.  Only after modelling (from …

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The bleak mid-winter

The British Government is about to commit economic Seppuku.  It doesn’t know it yet; and its spokespeople are determined to put off the day of reckoning.  Nevertheless, with SARS-CoV-2 infections spiralling out of control despite official attempts to curb the spread through local lockdowns, it cannot be long before the …

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Same old same old…

I am reliably informed that there are some districts in the USA where mentioning the term “the new normal” will get you hauled out of your car and beaten unconscious by some “mostly peaceful” kid with a skateboard.  It wasn’t always this way.  Back in the early days of the …

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Ripped off

How do you hide mass unemployment at little cost to the state?  One way is to create a giant higher education system to keep millions of young people out of the jobs market; and fund it using student debt. While this may not have been the intention of the architects …

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And next time?

In the next six weeks we will find out if we are at the start of a Covid-19 second wave.  What we know today is that the number of confirmed cases of Covid-19 in the UK has been growing dramatically from the beginning of July; with the seven day average …

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