A fairer criticism of neoliberalism is that half of them thought occupational licensing for doctors was a step too far so really seems hard to believe any of them would have supported the medallion system?!?
@ironeconomist.bsky.social
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Which neoliberal economist supported the medallion system? Seems another case of people calling things neoliberal that every neoliberal opposed. Indeed it was almost uniform opinion among neoliberals that occupational licensing is bad for hair dressers or nail parlours.
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I swears to god my personal contacts in America tell Me this is substantially bigger than tariffs as a story even among finance professionals who are among the most directly exposed to tariffs that I can imagine.
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I always feel like nerds like me should be bad at politics and then I see people saying Epstein is bad politics and lol lmao do you have any idea how many not really political American members of multinationals are actively messaging their European counterparts about the fucking Epstein emails.
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I think there is a lot of confusion about this because reeves is the first chancellor who has set her fiscal rules such that she is genuinely close to the real constraint of the markets so headroom is much more important than it was in the pre covid period.
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Compare net issuance to 2018-2019. It did fall more or less continuously until the pandemic and that is the market relevant quantity really.
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This isn’t exactly true though because reeves fiscal rules exempt investment, which is in many ways good but means the government is at the same level of notional headroom running much closer to the ‘reality constraint’ which is why reeves breaching them is a bigger deal.
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The fiscal impacts of immigration do depend enormously on the structure of tax and benefits and hiking the basic rate will make those net contributions much higher across the whole middle. A system that’s too progressive is a problem for the politics of immigration!
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Yeah so someone once pitched to me that the NHS and the Police are the last services to enjoy widespread political support so each cut turned into an extra cost to the NHS and the Police who then needed higher budget necessitating more cuts to upstream services and this was kinda what happened
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Reckon you and @jburnmurdoch.ft.com could genuinely get a whole month of columns out of that sheet. Splits out eg retired, non retired and households with children all by decile. Just an absolute wealth of fun facts in there!
