The scarcity myth

According to page 4 of the Principles of Economics by Mankiw – economics is the study of how society manages its scarce resources. or this recent post by Tim Worstall, Senior Fellow at the Adam Smith Institute: there are unlimited human desires but only scarce resources with which to sate them. This is easy to understand… Read more

Is world-leading NHS healthcare an affordable proposition?

Authors: David Laws, Consultant Anaesthetist, City Hospitals Sunderland NHS Foundation Trust, Sunderland, Tyne & Wear, SR4 7TP Professor Charles S. Adams, Department of Physics, Durham University, Durham, DH1 3LE Introduction: The unquestioned assertion that a highly developed currency-issuing nation cannot afford high quality healthcare [1] is based upon a set of inter-related and almost universally-held… Read more

Some data on the UK housing problem.

We hear a lot about the housing crisis and following on from a discussion on Richard Murphy’s blog I thought I would have a look at the data. Ideally all discussion should begin with data—in data there is truth—but we should remember that data-ists have enormous freedom as to what data to choose and how… Read more

Science and technology are the greatest agents of collective human progress.

Surely, only a politician could think that: “A free-market economy, operating under the right rules and regulations, is the greatest agent of collective human progress ever created.” Or maybe a politician and an economist. For everyone else, a much stronger case can be made for mathematics and written language, or science and medicine, or the ability… Read more

Poisonous tendencies

Cross-posted on  Brave New Europe. Anyone that has tried to balance a seesaw – not touching the ground – knows about equilibrium. We know how to adjust our position to correct any movement away from perfect balance. The seesaw fluctuates and we cannot relax, but if we react correctly it never moves far from the… Read more

Brave New Europe

An interesting new website has appeared this week called Brave New Europe. The goals are similar to progressive pulse but on a pan European scale. I have an article on how rising inequality is a market failure that needs fixing in order to avoid a continual sequence of economic and political crises.  … Read more

Trickle up in pictures

How trickle down led to trickle up is probably a familiar story to most readers of Progressive Pulse but still it is worth seeing the evidence in the data. This data is for the US and comes from the work of Piketty, Saez and Zucman. (The UK is slightly less extreme but has been following the… Read more