@anandMenon1 This is really a great shame. Have always found UKICE outputs to be very good, and a bastion of sanity in a fractious debate.
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Rupert Willis
631 posts
Rupert Willis
@RupertWillis4
魏 儒 賓 Economist, Eurocrat (ECFIN), interests mainly global economics (China, US, UK). Former UK civil servant. Monobrit. Opinions strictly my own.
Belgium Katılım Şubat 2019
580 Takip Edilen70 Takipçiler
@mtkonczal @CrisisStudent Thx for the heads up, I will be reading it
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@CrisisStudent I think he’s a brilliant empirical macroeconomists, and always learn something from his papers and talks. Haven’t read the book yet, have to imagine something for everyone at some point, even if you disagree.
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Jeremy Rudd has a book out in March:
"Practical Guide to Macroeconomics shows how economists at policy institutions approach important real-world questions and explains why existing academic work – theoretical and empirical – has little to offer"
cambridge.org/9781009465786
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@dandolfa Well, if the various comments to that post are to be believed, one just has to read Hazlitt’s “Economics in one lesson” and all will be crystal clear, no debate needed 🙂 A little (or too little) economics is a dangerous thing.
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It's not "there is evidence to suggest..."
It's not "there are some propositions that claim..."
It's not even "here is what I believe..."
It's just the unvarnished truth, something hidden from your eyes, but now presented to you as a lesson, a gift to humanity. Thank you, Sir.
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@Davejones0305 @mickytomo1 Also, a lot of private bank credit is mortgage lending. One can debate how productive that is. With an inflexible housing supply, mostly pushes up prices.
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@JustRowena Even within Oxbridge it is a cliquey, marginal thing. Most students are far too busy to bother with this kind of thing.
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@NewLeftEViews Always thought his paper on the methodology of positive economics was one of the dumbest things I ever read.
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I find it hard to take people seriously who don't realise how frequently this is true of 'intellectual giants'.
René 🟥🚩🇵🇸@rcmoya84
I never really understood why Milton Friedman was seen as a giant intellectual when his thinking is fairly pedestrian
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@stevefolan @gardener_the Indeed, a masterpiece, and Michael Jayston was quite superb. RIP.
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@gardener_the That "Tinker Tailor" will not be surpassed. The cast was excellent and the chemistry between them was magical.
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Really sad to learn that Michael Jayston has died. A marvellous actor - the consummate Peter Guillam in 'Tinker Tailor'.
But as a reader of le Carre's books he surpasses all - I have spent hundreds of hours listening to him, and will do so for many years to come.
RIP
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@GerriisalsoGigi @Davengerri @JenWilliams_FT With decimation of local authority funding post 2010, that effect was weakened somewhat, and compounded by changes to funding system post 2016, iirc. To put it another way, policy has gone directly contrary to levelling up over past decade or so
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@GerriisalsoGigi @Davengerri @JenWilliams_FT The allocation of central govt funds to local authority services always had a strong “levelling up” function, because subsidy was calculated to bridge gap between (local) needs and (local) tax base.
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Gove on local govt failure (context was lack of local plans but he then expands): “If you’re doing well, we want you to have the maximum freedom possible, so West Mids, GM, Tees Valley - more devolution, more flexibility…If however you’re failing, then we’ll get medieval”
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@jmhorp They should label that curve “marginal product of janitors” though, rather than marginal product of “labour”. The subtle insinuation that the wage reflects an embodied feature of the employee, rather than the job itself. And that “labour” is therefore paid “what it is worth”.
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I mean, this is taught in most intro economics courses. I agree, everyone should take at least one!
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Who would you rather have as PM?
1. Rishi Sunak
2. Someone who will give you a million pounds; a new car; and the opportunity to fulfil your sexual fantasies.
I am available for other polling commissions.
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@krankepantzen @UnlearnEcon Yes. Also why I dislike the heavy platonism of the subject - that is, seeing everything real as a deviation from some ideal type. Unavoidable to a degree, but can lead to very shoddy thinking.
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@RupertWillis4 @UnlearnEcon Yes, agreed. Happens a lot in my experience. Many people making same criticisms in slightly different language, or slightly different perspectives. But the point is normative economics has a bad habit of looking only at the trivial case of markets under agreed upon ethics, laws.
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@krankepantzen @UnlearnEcon Think we are saying the same thing
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@krankepantzen @UnlearnEcon Fully agreed. But not just that. Impossible to understand political economy of most countries without understanding how distributional questions have shaped institutions, which in turn shape pattern of development.
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@krankepantzen @UnlearnEcon The notion that issues of equity or distribution are kinda irrelevant for economics is just incredibly ignorant, frankly. A product of too many economists thinking history is an awkward inconvenience to be ignored whenever possible (venting….)
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@UnlearnEcon Unrecognized, undiscussed normative or positive elements seem a likely route for political and cultural differences to affect economic debates, and the relatively arbitrary nature of engineering models versus reality-based science also provides more opportunity for bias.
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QME
@donjovi2 @rfesteadman @carolejanehay @PaulKirkby3 Made up. I checked the ONS data (the “pink book” for 2023). Over 40% of exports go to EU, around 47% of imports come from EU. That is 2022, the last full year. But quarterly data for 2023 is basically the same story.
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@rfesteadman Er, no. Take a look at the “Pink Book 2023” on the UK’s Office for National Statistics website. Chapter 9. Table 9.16. In 2022 the UK’s exports to the EU were over 40% of total exports. Imports from the EU were around 47% of total imports. Why do you just make stuff up?
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@PaulKirkby3 It won’t happen- we’d have to unwind too many other trade deals & The EU makes up a comparatively small & declining percentage of the UK’s trade anyway (less than 25% now) so will not happen as our trade with the rest of the globe is INCREASING & The EU seems to be in 1/2
South West, England 🇬🇧 English