The Pru 100

Unlike Team Sky on the Champs Elysées, we’d not practised this for crossing the finishing line, which is why we both look a bit worried.  A week on, Annie is off travelling, and I’m catching up with my life post retirement, with a blog about the whole experience, and thanking everyone who sponsored me, on… Continue reading The Pru 100

John Kay on Mervyn King’s “The End of Alchemy”

Having already expressed my doubts about Mervyn King’s ideas on credit in his recent book, “The End of Alchemy”, I’m moved to comment on John Kay’s very positive review of it yesterday for the FT, The enduring certainty of radical uncertainty where for him the most important message was the stress on radical uncertainty. He… Continue reading John Kay on Mervyn King’s “The End of Alchemy”

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Mervyn King on credit

John Plender gives a warm review to Mervyn King’s recent book, The End of Alchemy: Money, Banking and the Future of the Global Economy Uncertainty principles: ‘The End of Alchemy’, by Mervyn King concluding It is rare to encounter a book on economics quite as intellectually exhilarating as The End of Alchemy I’m not convinced, at… Continue reading Mervyn King on credit

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Gene Gini

Alternatively, how much inequality would there be if all human lives were played out on an economically levelled playing field? I know it’s never going to happen, not least because economic winners, whether thanks to luck or talent, like to tilt the odds for the next generation by giving their children the benefit of their experience… Continue reading Gene Gini

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Tax Media Centre?

This is a response to Jolyon Maugham’s blog yesterday SO JUST HOW GOOD IS THAT NORTHERN ROCK TRANSACTION? in which he questions George Osborne’s claim that the sale of these assets has made a profit for the UK taxpayer, given the likely use of Irish SPVs by the buyer.

Kognitiv dissonans

This week’s Economist has an article on Property in Sweden Home is where the heartache is

What to read about financial bubbles and crashes?

So asks @TimHarford today, linking to a reading list proposed by Noah Smith “Panics and Bubbles” reading list itself a comment on another proposed reading list by Tony Yates, If I was devising a panics and bubbles course… which, while commended, is criticised for being too focused on ‘macro and money-based models, usually with rational expectations’.

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Housing expenditure – overlooked and undertaxed

This is a follow up to an earlier post, Since housing is economically a luxury good, why not tax it more?, where the argument was based on a longitudinal study.  For this I am endebted to @RichGreenhill for pointing me to an ONS spreadsheet showing expenditure by income decile, which can be downloaded here.

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If it wasn’t for the Nimbies inbetween

More evidence that capitalism wouldn’t be so bad if it wasn’t for the Nimbies inbetween. This graph from Matthew Rognlie’s paper disaggregating Piketty’s overall story of increasing returns to capital is well known (although not as well known as it should be …) Deciphering the fall and rise in the net capital share But today I… Continue reading If it wasn’t for the Nimbies inbetween

Not replacing Capitalism

This is a comment I made on Paul Mason’s Post Capitalism, with two links to other threads on my local Forum which as of now I do not have time to rescue.  Putting this on my list of things to do …