The foundational facts about economic life that should be the starting point for a process of learning how to create an economy that provides enough for everyone. A summary of the entire blog.
Summary of paper by Nicholas Oulton on the UK “productivity puzzle” – aggregate demand and income distribution matter.
How we ensure that the benefits of increased productivity are distributed throughout society – not just distribution of income, but distribution of the capacity to produce.
A practical example of last week’s arguments – the potential economic and political impact of driverless cars.
A summary of a recent paper by Adair Turner on the impact of automation on unemployment and the economy in general, and the implications for social cohesion.
A demonstration that mainstream, free market economics actually has no coherent answer to what happens to surplus labour as productivity rises.
A real example of what happens when you allow an industry to decline in the name of productivity – South Wales coal-mining.
Does rising productivity cause unemployment? (Sometimes yes.)
How do we distribute what we can produce? And does the distribution of wealth itself impact productivity?
A summary of a brilliant new paper from the IIPP on the need for credit guidance policies, confirming one of the conclusions of the blog 2 weeks ago.