This is a box attached to my cover story from this week’s Fund Strategy magazine. The debate about robots, particularly their purported negative effects, has close parallels with discussions of the end of work. In itself the reduction in working hours or the elimination of work entirely can be seen as either welcome or as [...]
This is the text of my latest book review for the Financial Times. It is the first time I have covered anything to do with classical antiquity in my writing. Is there any way of escaping the terrible rut into which the debate about executive pay has fallen? As things stand, discussions of the subject [...]
It is striking how many British households of working age have no direct personal connection with the labour market. In that respect at least they are marginalised from mainstream society. According to statistics published this week by the Office for National Statistics some 18.8% of working age households (where at least one person is aged [...]
Some interesting facts but misleading comparisons in yesterday’s Financial Times comment on youth unemployment: “High youth unemployment is not just a North African problem. The looting that ravaged English cities last week happened in a country where one in five young people is jobless. The picture in the US is no better. In continental Europe [...]
There was an interesting post on “wage moderation in Europe” on thecurrentmoment blog yesterday. It argues that wage moderation is not just a phenomenon in Germany, where it is widely recognised, but across the continent. For example, in the Netherlands it has been instiutionalised as part of the “polder model”.
Rather than discuss Britain’s riots in general terms I want to focus here on the explanations that relate to the themes in Ferraris for All. That is to look at the arguments that blame the riots on inequality, poverty, public spending cuts, greed and similar factors. I should emphasise that my critique of economic explanations [...]
Yesterday’s Financial Times included two features praising the German labour market. Maurice Glasman, a Labour peer, and Duncan Weldon, an economist, lauded the German system in which workers have accepted reductions in their working hours. Ralph Atkins and Matt Steinglass described how unemployment rates in Germany and the Netherlands have remained relatively low thanks to [...]
It is hard to resist despair at the poor quality of media coverage of recent financial and economic events in the eurozone and America. Supposed experts fixate on the extremely short-term including such indicators as stockmarket movements, sometimes even over minutes, and monthly employment figures from America. I can confidently say that such indicators reveal [...]
My latest article, on the western media’s perverse support for class struggle in China, is live on spiked.
Much of the case against me marshalled by Kevin Doogan, professor of European policy studies at Bristol University, on yesterday’s Thinking Allowed programme rested on a simple logical confusion. A lot of what he argued assumed that rising inequality necessarily means that absolute living standards for the poor must fall. But this claim rests on [...]
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Ferraris For All, my book defending economic progress, has just been published in an extended edition in paperback and on Kindle with a new chapter on the inequality debate.Amazon.com, Amazon.co.uk, Amazon.ca, Amazon.de,
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