Capital, capital everywhere, nor any drop to drink
Again, yesterday’s post put up many more questions than anything resembling an answer. But I’ll plod on and thank you for your patience. Obviously, there is a distinction between financial capital and...
View ArticleThere is no manufacturing nirvana
Yesterday’s post makes the point that the decline in manufacturing is a demand led phenomenon. We simply don’t need manufactured products in the same proportion as we used to. Creating time for...
View ArticleNo one has made money in China
Yesterday morning I read the latest in Kate McKenzie’s series on shadow banking in China. The series highlights the rise of the shadow banking sector in China, as residents seek out alternative...
View ArticleWhat does productivity look like?
I tend to think productivity growth in developed economies is so glacial that we’ve lost sight of what it looks like; it’s largely invisible. Indeed, only this morning, I had a conversation with...
View ArticleInterfluidity: Trade-offs between inequality, productivity and employment
Steve Randy Waldman has a very good blog called Interfluidity. Around a month ago he wrote an interesting piece on inequality, productivity and employment. This was all tied into abundance. He talks...
View ArticleCan we say goodbye to the Great Stagnation?
Last week I changed my view on the likely impact of the third and potentially infinite round of Quantitative Easing. An important frustration for me from the first rounds of QE was the policy’s failure...
View ArticleProductivity: what the China bears forever disregard
The annual return of Chinese labour to the factories of China’s south is taking on increasing importance for employers and those wishing to fill orders. This article in the Wall Street Journal outlines...
View ArticleTechnology and being a market economist in the 1980s
With this discussion of technology and the changing face of work I thought it might be interesting relate a story of the positive, work-enhancing technologies that have emerged. Obviously it’s an...
View ArticleKrugman exploring a Post-Capital world
Paul Krugman’s latest blog, a musing from Paris, focuses on many of the issues I have been considering for some time. Effectively, Krugman describes large parts of the Post-Capital world I’m trying to...
View ArticleA little on urbanisation working
Business Week is running a story on China opening up the hukou, its urban registration process. The report quotes an NDRC document: “the government should gradually tear down household registration...
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