One of the great achievements of the Enlightenment was a sense of other. Instead of thinking only of ourselves, or our tribe or locality, European societies began to think philosophically about other people and their rights and duties. Although religion was a motivator, this respect for others became a doctrine in its own right. Here […]
The combination of Theresa May’s surprise Phase One Brexit deal, and a subsequent poll by YouGov putting the Conservatives 1% ahead of Labour on 42%, suggest the tantalising prospect that Jeremy Corbyn’s popularity has peaked. A reasonably competent Budget, so the narrative goes, the fact that Brexit is stumbling on, and the commendable stamina of […]
Here is a light historical distraction, for those who take a long-term view. We are currently in the midst of the third longest secular bull market in bonds ever (at 36 years), beaten only by one from 1441 to 1481 (40 years) and the record of 1605-1672 (67 years). I know this because the Bank […]
We cannot take the suspense. Philip Hammond labours like Caractacus Potts in the Treasury shed. Creak, bang, curse, he tinkers away into the night, preparing to unveil his latest Budget contraption on November 23rd. There is a sense of foreboding too. Will it fly beautifully, like Chitty, Chitty Bang? Or send him careering dangerously around […]
I know these are unfashionable things to say, but not only is the British economy in much ruder health than many commentators admit, but we all owe a debt of thanks to George Osborne. The excellent public sector finance figures published today are a dramatic demonstration of these truths. What a pleasant surprise for the […]
Given the economics profession’s delight in gloom, sifting out the good news from that which is actually bad requires constant vigilance. This week is a classic example, over the average earnings data. The Office for National Statistics said that average earnings grew at an annual rate of 2.2% in August, below inflation. In other words, […]
Here is a short note on some important new regulations which may strengthen the hand of individuals against wrongdoing by the media, and on social media platforms. In May 2018, the EU’s General Data Protection Regulation comes into force, which seeks to protect the personal data which companies hold on their customers and potential customers […]
Those who are accustomed to seeing Britain as an essentially market-based society, home to the City of London and a redoubtable property-owning middle class, need to think again. The Labour Party just held its annual conference and, incredibly, it is winning the economic argument. On everything from housing, to tax increases, to student loans, to […]