Deflation
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The Dark Pool of Empty Markets
Many have commented that the job market has become an enigma over the past few years. The jobless rate is low, but pay has risen slowly. Are we[1] measuring pay imperfectly? Vacancies co-exist with unemployment and the old phenomenon of under-employment and the new challenge of a zero-hours contract have emerged to colour the landscape.…
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Wistful Economics
Economics of times past, of Adam Smith and Keynes alas! Has economics become an illusion? Yes. It is an accidental tourist in the political landscape. Economic policy making is[1] ‘but a walking shadow, a poor player that struts and frets his hour upon the stage’ of natural numbers, coupled with policymakers throwing[2] ‘sixes and fives in…
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Whither the Euro? The Liar’s Paradox
Whither the Euro? The Liar’s Paradox In Dickens’ Hard Times the character Mr Gradgrind can’t help but speak about Facts to his pupils: ‘Now, what I want is, Facts. Teach these boys and girls nothing but Facts. Facts alone are wanted in life. Plant nothing else, and root out everything else’. As we listen to…