We are living through a golden age of near full employment according to the Department of Work and Pensions and the Office of National Statistics. Despite a slow growing economy and low levels of business investment unemployment is back to levels not seen since the 1970s. I have mixed views about this. I do think … Read more
The Institute of Fiscal Studies has commissioned Sir Angus Deaton to lead a review of growing inequality in the UK https://www.ifs.org.uk/inequality/ The press have got very excited about this, and rightly so – what could be more exciting than a 2 year study mixing economics with epidemiology? Just think of the graphs! https://news.sky.com/story/suicide-drug-abuse-and-alcoholism-linked-to-more-middle-aged-deaths-than-heart-disease-11719426 https://www.theguardian.com/inequality/2019/may/14/britain-risks-heading-to-us-levels-of-inequality-warns-top-economist?CMP=Share_iOSApp_Other For … Read more
The public sector outsourcing market died another death this week with the news that the UK’s Probation Services (or Offender Management as they are now called by wacky bureaucrats) will all come back in house: https://www.theguardian.com/society/2019/may/16/part-privatisation-probation-sevices-to-be-reversed-offender-management-nationalised-chris-grayling This isn’t entirely news as the problems with Criminal Justice outsourcing have been know about for several years: https://www.theguardian.com/society/2013/dec/15/probation-reforms-put-public-at-higher-risk … Read more
One of the greatest ever papers published in a history journal was written by Jan Vansina for the Journal of African History Vansina makes the very simple argument that the abolition of slavery increased labour costs. These increased labour costs in turn made it more attractive to invest in mechanisation and industrialisation. And the increased … Read more
Yet another outsourcing company gets into trouble. https://www.theguardian.com/society/2019/feb/16/unions-condemn-chris-grayling-disastrous-part-privatisation-of-probation-working-links I don’t think that many people will be sad to see the back of Working Links as they lose their probation services contract. It looks like they might not be the only ones to lose their contract in the weeks to come – of the 21 Community … Read more
Big Pharmaceutical companies aren’t very popular. You may have spotted this. Right now the firm in the spotlight is Vertex, who are announcing a tidy increase in profits, while the NHS squabbles to afford their new Cystic Fibrosis drug Orkambi. https://www.theguardian.com/society/2019/feb/10/vertex-revenue-hike-orkambi-drug-nhs Before I start giving the pharmaceutical industry a kicking lets start with a few … Read more
I’ve had a few people suggest that I should write a blog on the economics of Higher Education, and the impact of University expansion. I am guessing that this reflects the age of my readership – our children are filling in UCAS forms, and buying IKEA starter sets of crockery in preparation of moving out … Read more
Over the last few years I have had a few arguments with people on social media. You might have spotted this. I might even have politely explained to you why I am right, and you are foolish. Over and over again I have had the same, odd experience. Someone has angrily told me that they … Read more
I hope that people aren’t getting too bored with discussions of inequality, because this is another blog which touches on 2 familiar themes; how income is distributed; and how governments produce the statistics that we use to inform political and economic debates. There is a common assumption that over last few decades the economic performance … Read more
I have written previously about why the current system for measuring unemployment might not giving us an accurate picture: Unemployments rising in the Chigley End of Town People will have read in the media that UK unemployment is at it’s lowest since the 1970s. This from the BBC is typical: I thought that … Read more