Extract . . . British manufacturers have upped their game, according to new PMI data from Markit. And the financial sector is also bouncing back, with CFO confidence up and a hiring spree in the first quarter. One week we’re in recession, the next we’re not. The economic hokey cokey continues. Today, the Markit Purchasing [...]
Continue reading about Recession or no recession? You decide
Extract . . . Factory output increased 0.2pc from the previous month, when it fell 0.3pc, according to the Office for National Statistics. Economists were forecasting a 0.1pc rise. Overall industrial output, which includes mining, oil and gas, was unchanged on the month. The ONS said the data will have a “negligible” impact on its [...]
Continue reading about UK manufacturing rises for first time in four months
Extract . . . A recent post on Steven Levitt and Stephen Dubner’s Freakonomics blog discussed the growth of the shadow economy across the world. The post claims that the shadow economy is the second largest in the world. Freakonomics: “In 2009, the OECD concluded that half the world’s workers (almost 1.8 billion people) were [...]
Continue reading about Rise of the Shadow Economy: Second Largest Economy in the World
Extract . . . I am old enough to have experienced several economic crises in my working career, and that helps put today’s malaise in perspective. Tax revenues fall and social spending for unemployment support and related programmes rise. And more often than not, when governments have responded by attempting to cut public spending, they [...]
Extract . . . Given that the entire leadership of the Eurozone has just tripped off to China, cap in hand, to ask if it’s got any pennies going spare, it’s no surprise that the British Government also sees the solutions to all its troubles in the Far East. But David Cameron’s dreams of kick-starting [...]
Extract . . . It might be easy to haggle over prices when in overseas souks and markets, but most of us are reluctant to quibble about the cost of goods and services back home. Research by the online shopping company InvisibleHand shows that three quarters of us are too shy to haggle for a [...]
Extract . . . Blaming Britain’s lack of growth on the taxation of high earners is nonsense – and totally out of step with the rest of the world I know very few rich people who got rich to make money. They got rich because, other than spivs and gamblers, they enjoyed their work and [...]
Continue reading about Let’s find progressive ways to tax the winners in our trickle-up economy
Extract . . . Three Nobel economists share their thoughts on America’s future, what went wrong, and what can be done to fix things. Coming home from my Italian vacation this year was an abrupt transition. From the calm waters of southern Sardinia, I was plunged into the global economy’s stormy seas. Financial markets were [...]
Continue reading about The Road Ahead: Will the West Stabilize and Grow Again?
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