Fire – how did it come to this?

The devastating fire in North Kensington must have had us all thinking of 9/11. And yet this was a preventable, (in all likelihood) accidental fire in what is supposed to be the fifth richest nation on earth. Personally I feel deeply ashamed that such an appalling inferno, in which at least 17 people perished, can… Read more

No hope – just belief

The central tenet of the Conservative campaign seems to be a beauty contest of personalities with Jeremy Corbyn as chief ogre. The only Tory plan is austerity, which is largely uncosted. Otherwise there is hardly any plan – and certainly none for Brexit. Unfortunately the beauty contest has been interrupted by bombings and murders. Yet,… Read more

BoM June 2017

Our June Book of the month is Debunking Economics by Steve Keen. Debunking Economics exposes what many non-economists may have suspected and a minority of economists have long known: that economic theory is not only unpalatable, but also plain wrong. When the original Debunking was published back in 2001, the market economy seemed invincible, and… Read more

Lower tax equals a worse life

Let’s be clear, lower tax means lower prosperity, worse public services, worse health and worse education. The evidence is in the data. The graph below (updated 2017-06-08 following suggestions in the comments) shows outcome measured using the UN’s inequality-adjusted human development index (IHDI) as a function of input measured using tax as a percentage of national… Read more