Category Archives: UK Economy

Discussions specifically about the UK economy.

The existential crisis of Labour-type political parties

At one point in my student days anyone who wasn’t reading Marx on a particular day, was reading Satre, Camus and Merleau-Ponty, among others, at least in the groups that I mixed in. But then they were also reading Dostoyevsky. … Read the rest of this entry »

Posted in Economics, Politics, UK Economy | 39 Comments

The slowest recovery in modern history just slowed down again

The British Office of National Statistics released the data – Gross Domestic Product Preliminary Estimate, Quarter 1 (Jan to Mar) 2015 – yesterday, which should tell the British voters that the Conservative government has failed. There is no political spin … Read the rest of this entry »

Posted in UK Economy | 9 Comments

A “Budget Responsibility Lock” – a ridiculous proposal

The US Koch brothers provide substantial funds to the George Mason University to ensure it remains a bastion of so-called libertarian, free-market thinking. The brothers don’t really want a free market but it just serves their political and commercial aims … Read the rest of this entry »

Posted in Economics, UK Economy | 19 Comments

The skies above Britain predicted to fall down … again. Don’t fear!

You may not remember the prediction by the American Arthur Laffer in his Wall Street Journal Op Ed (June 11, 2009) – Get Ready for Inflation and Higher Interest Rates. As the US government deficit rose to meet the challenges … Read the rest of this entry »

Posted in UK Economy | 15 Comments

Employment growth in the UK but of dubious quality

I am always amused when conservative politicians make claims like they created so many thousands or millions of jobs while in government. Typically, in Opposition they will claim that governments do not create any jobs, which justifies them introducing pro-business … Read the rest of this entry »

Posted in UK Economy | 7 Comments

Wage rises are required – real wages must grow in line with productivity

There was an interesting article in the UK Guardian last weekend (March 29, 2015) – Why falling inflation is a false pretext for keeping wages low – which examined wage trends in the UK and the validity of the argument … Read the rest of this entry »

Posted in Economics, Eurozone, Labour costs, UK Economy, US economy | 11 Comments

British fiscal statement – continues the lie about austerity

The British Chancellor George Osborne told the British people during his fiscal presentation yesterday that the “The sun is starting to shine – and we are fixing the roof”, which was code for the age of austerity is over. The … Read the rest of this entry »

Posted in UK Economy | 16 Comments

Lacklustre British economy all down to Conservative incompetence

Not much has really changed in Capitalism despite massive changes in technology, market reach, etc. The underlying behaviour is stable – chicanery, bleeding the state for all the advantages that capital can gain while berating workers (unions) and welfare recipients, … Read the rest of this entry »

Posted in UK Economy | 21 Comments

Don’t mention the war! er the Troika …

“Don’t mention the war”! was a classic line from the episode – The Germans – in the comedy Fawlty Towers. Basil Fawlty implored his meagre staff to stay silent in case they offended some German tourists staying at his hotel. … Read the rest of this entry »

Posted in Economics, Eurozone, UK Economy | 33 Comments

US labour market improving slowly – Eurozone falls further behind

Last week (February 6, 2015), the US Bureau of Labor Statistics (BLS) released its latest – Employment Situation Summary – which suggested that “Total nonfarm payroll employment rose by 257,000 in January, and the unemployment rate was little changed at … Read the rest of this entry »

Posted in Eurozone, Labour Force, UK Economy, US economy | 10 Comments