Why Piketty’s socialist manifesto doesn’t stack up May 5, 2014 THOMAS Piketty makes some bold claims about the future of capitalism. In Capital in the Twenty-First Century, he observes that, in capitalist economies, the rate of return on capital (r) tends to be higher than the growth rate of the economy (g). Provided capital owners save a high proportion of capital income, the power of [...]
City & Gild: All Hail Real Ale May 2, 2014 As a bloke of a certain age, the new wave real ale, artisan brewing phenomenon has not passed me by un-noticed; the emergence of owner-operated, boutique, passion-led breweries has reinvigorated a dying pub culture and given ales a new energy comparable to the recent growth in wine and vodka. It may just have done for [...]
Letters to the Editor – 02/05 – Inflation spike, Rent controls, Best of Twitter May 1, 2014 Inflation spike [Re: How the Goldilocks recovery will trigger a sharp inflation rise, Wednesday] I would love to be Andrew Lilico’s bookmaker, as he’s agreed to a £1 to £1 bet against the odds. But I do agree with his analysis that there is little spare capacity in the UK. The underlying rate of growth [...]
Why Miliband’s rent control plan isn’t just some harmless gimmick May 1, 2014 TO DEAL with the problem of escalating rents, Ed Miliband plans to introduce what amounts to a variation of “second generation rent controls” (SGRCs). Under SGRCs, landlords are free to set rent levels at the outset of a tenancy, but are restricted in their ability to raise them during the term. In Miliband’s specific version, [...]
This is how elites die: The establishment bubble has no answer to Ukip May 1, 2014 IT IS time to give up the pretence that Ukip is an anti-establishment party. Clearly, the UK Independence Party is the power behind the British establishment’s throne, its secret master. How else did it persuade bien pensant opinion-formers to coordinate a series of cheap, alienating broadsides on its candidates and policies that have served only [...]
Why making it easier to volunteer would narrow Britain’s gender pay gap May 1, 2014 WILL the Conservatives’ flagship initiative, the Big Society, again occupy a prominent position in the upcoming elections? In deciding, the Tories might like to consult the surprising results of our recent research on volunteer work. We asked the following question: when you work for free to help others in society, does it also increase your [...]
How to narrow the gender pay gap by encouraging volunteering May 1, 2014 WILL the Conservatives’ flagship initiative, the Big Society, again occupy a prominent position in the upcoming elections? In deciding, the Tories might like to consult the surprising results of our recent research on volunteer work. We asked the following question: when you work for free to help others in society, does it also increase your [...]
Miliband’s swipe at landlords is no comfort for UK renters April 30, 2014 THE UK’s housing crisis is no secret, and political solutions are offered two a penny. Unfortunately, Ed Miliband’s plan to limit rents is perhaps the one thing that can be relied upon to make the situation worse for Britain’s renters. Like any price ceiling, Labour’s pledge will reduce available supply, as rents are capped below [...]
Letters to the Editor – 01/05 – Tube strikes, Best of Twitter April 30, 2014 Tube strikes [Re: As Tube strikes cause transport chaos, should such union action be restricted?, yesterday] It is time to break the threats of militant union bosses. The GLA Conservatives have long made the case for banning strike action on the Tube. In return, unions should gain the right to independent mediation. Under a process [...]
Why Britain shouldn’t fear a stronger pound April 30, 2014 THE RISING pound is causing some concern. “City squeezed by stronger pound” proclaimed the headline in Monday’s City A.M. – reporting the impact of sterling’s rise on the translation of overseas profits. There have also been worries that a rising pound could stifle the recovery of manufacturing output and exports. So what are the facts? [...]