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Podcasts What to make of the Labour government’s first budget? Ayeisha Thomas-Smith is joined by James Meadway and Hannah Peaker By Ayeisha Thomas-Smith 01 November 2024 The Autumn Budget was the most significant since George Osborne implemented...

Statens finanser funkar inte som du tror Sex av åtta riksdagspartier har nyss ställt sig bakom ett nytt stramt finanspolitiskt ramverk. Osagt i diskussionerna kring ramverket är en bakomliggande föreställning att staten fungerar som ett hushåll eller ett företag: Att det är osunt och riskabelt för staten att ”leva över sina tillgångar” och att dra på sig stora skulder. Att ”den som är satt i skuld är inte fri”. Metaforerna och liknelserna är lika talrika...

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from Lars Syll Today’s model of delegation has much to recommend it. But it should not be cloaked in euphemism. It is an abrogation of democratic sovereignty for pragmatic reasons, conditioned on the one hand by deeply entrenched and unflattering assumptions about electoral politics and, on the other, on an unquestioning acceptance of the private organization of credit markets and their lack of confidence in democratic control of economic policy. This may be an abrogation that we are...

What statistics teachers get wrong! .[embedded content] This insightful video confirms what I always like to emphasize to my doctoral students: Statistics is no substitute for thinking. A non-trivial part of teaching statistics is made up of learning students to perform significance testing. A problem I have noticed repeatedly over the years, however, is that no matter how careful you try to be in explicating what the probabilities generated by these...

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For a new fiscal policy framework Poorer and lower-income households have a higher marginal propensity (MPC) to consume than richer and higher-income households. The more equal income and wealth are distributed, the higher the structural level of demand of an economy. A high structural level of demand in turn reduces the need for public deficits: full capacity utilisation is already achieved at a lower level of debt and deficits. The more unequal the...

How to become a Keynesian Until [2008], when the banking industry came crashing down and depression loomed for the first time in my lifetime, I had never thought to read The General Theory of Employment, Interest, and Money, despite my interest in economics … I had heard that it was a very difficult book and that the book had been refuted by Milton Friedman … Baffled by the profession’s disarray, I decided I had better read The General Theory. Having done...

Economic activity, interest income transfers, rate cuts. All happening.