European Commissioner as East End schmutter salesman

It’s a little odd to study Britain then conclude that racism and conservatism are aligned when our most racist political party is a nationalist socialist one and when our most conservative political party is the Labour Party.

It’s really rather fun in the comments: we’ve even got someone flat out insisting that UK GDP per capita in 1600, or Chinese in 1978, could not possibly be only $950 a year because it’s impossible to survive on £2 a day.

He seems not to realise what poverty actually means. Nor how poor people were in the past.

djdoucheface david watson
but this conservative douche nuts forbes journalist actually makes some annoyingly decent points au contraire onforb.es/wE4yYv

It’s a little odd when people accept only one of the two, public choice theory and the principal/agent problem. For they’re really just two sides of the same coin.

An interesting quote from Keynes pointing out that it’s not all about aggregate demand.

Turns out this Anglo Saxon style of capitalism, with it’s emphasis on public markets for equities, does have some advantages over Rhineland capitalism after all.

CSR increases profits: which is why profit maximising companies do some of it. Just perhaps not quite as much as the campaigners think they should, for that level of it isn’t profit maximising.

The stupid people whining about the living wage. Why not just cut taxes on poor people?

Idiocy from the Fair Pay Network

6. The best thing for wages and working conditions is full employment, and we can achieve this by getting rid of the minimum wage and regulations. This will increase wages and improve working conditions, but these higher wages and conditions won’t reduce employment in the same way as the regulations did before because free market.

Yup.

Because optimal.

There is some level of wages and working conditions which is the best we can do at any particluar level of technology or wealth. The trade offs of those in work having great wages and conditions and those who can’t get work because their labour is not worth the great wages and conditions.

We need some method of calculating what is this optimal trade off.

It is possible that the flapheads and addlepates that go into politics are able to calculate this optimal trade off. Historical experience tells us that this isn’t quite the way it works out.

It is also possible that Hayek was right, that it isn’t possible to do such calculations about the economy because we have to actually use the entire economy to perform the calculations for us.

65 million people employing the wisdom of the crowds to reach that best as we can get to optimum instead of the flapheads and addlepates who go into politics.

Yes, quite, because free market.

nef really is the no economics foundation. They’re even against the division of labour for goodness sake.

What fun as everyone gets downgraded.

The start of a new little business adventure. This week is to sort out a flat etc. Then will be based up there most of the time for the next 6 months. I’ll be like everyone else, coming to Portugal on hols……

Mass employment in manufacturing just isn’t coming back

Another spotting of luddite loons on the loose.

More about why social rents so too are subsidised.

Far from MP’s bars being subsidised they should be making a profit.

Another thing that might be wrong with the DECC calculations about the costs of renewables.

If neoliberalism gets the blame for the state of the world then shouldn’t it also get the praise for the things that have gone right?