mainly macro
Comment on macroeconomic issues
Tuesday, 28 June 2022
The origins of mediamacro, and how to consign it to history
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“ Practical men who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist...
Monday, 20 June 2022
Why has UK real wage growth been so low?
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Some people have expressed surprise that UK real wages have recently fallen during a period when the UK labour market was pretty tight. (Th...
Tuesday, 14 June 2022
In praise of Biden’s fiscal stimulus
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The wisdom or otherwise of the American Rescue Plan, which included $1,400 direct payments to individual Americans, has been a constant deb...
Wednesday, 8 June 2022
The appalling autocracy of Alexander Boris de Pfeffel Johnson continues, thanks to Conservative MPs
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It is common to talk about how UK Prime Ministers have become more presidential over time. Cabinet government, where the PM is first among...
Tuesday, 31 May 2022
Government spending is not limited by tax revenues or borrowing, but it isn’t limited by the productive capacity of the economy either.
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When ministers, in response to demands for more public spending, declare there is no magic money tree they are in literal terms lying. One...
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