Brexit & modern supply side economics

Brexit & modern supply side economics

I have just read Jonathn Portes’ review of Peter Foster’s book “What Went Wrong With Brexit?”. Portes looks at the economic damage, the under investment in human capital and the continued timidity of our politicians. In this review, I [hope I] add to the debate by looking at long term goals and short term modern supply side programmes, most importantly in my mind, rejoining Horizon Europe.

There's a couple of things in the article which interest me. Portes in the subtitle ensures that we understand the damage that Cameron and Osborne 's austerity has done to the UK economy. A critical conclusion from this article is that the problems in the British economy are endemic, predate the Brexit vote but are made worse by the increased bureaucracy in conducting foreign trade, and the miserly modern supply side policies of this Tory government. Portes suggests that the realistic choice, because of our political leader’s timidity is between minimal change to the future trade and cooperation agreement or rejoining the single market. Portes suggests that the minimal change suggestions i.e. fixing Brexit will not be as easy to achieve as its proponents hope.

I finish my review by looking at the contradictions in Sunak's policy by continuing to exclude the UK from Horizon Europe. It is curious that Sunak permits this policy to stand, given that he is a fan of Paul Romer's work on investment & innovation. Romer argues that growth is driven by investment in Human Capital. re-joining Horizon Europe, would be a simple remediation of a number of barriers to growth.

For the full review, press the "Read More" button.

The 14th amendment and oath-breakers

The 14th amendment and oath-breakers

In the linked video, Michael Pocock, a lawyer correspondent on the Meidas Network expresses his delight at Baude and Paulsen’s white paper, “The Sweep and Force of Section 3” which argues that the 14th amendment to the Constitution prohibits Donald Trump from holding any federal office, including that of President as the clause forbids holding office by former office holders who then participate in insurrection or rebellion. Baude and Paulson are well known and respected judicial scholars and members of the Federalist Society and known supporters of the originalist doctrine of interpretation of the Constitution. The rest of this article, see overleaf, reproduces the powerful abstract and links to two further news commentaries. ...

Triangulation and abuse

Triangulation and abuse

It is clear that Labour’s leadership are executing the New Labour playbook with a touch of 20th century triangulation by pandering exclusively to communities that don’t vote for them and adding the practice of trolling those that do. On issues from foreign policy, public sector pay, fiscal policy and the EU, we can see this to be so.

In James Surowiecki’s book the Wisdom of Crowds, he examines the behavioural economics game of “Ultimatum”, which shows that you can’t take people for granted, if people don’t like the rules they won’t play the game.

In Ultimatum, players are divided into groups of two, and one is the proposer, who proposes how to split $10,000, the second player can accept or reject. If rejected, neither gets anything. Economic rationalism suggests that the second player will always accept any offer; however, reality tells a different story. The second player on the whole rejected lowball offers that they think to be unfair. Interestingly, in a second round, both players were told that the proposers had got high scores in a test, and in those circumstances the average at which proposals were rejected fell; if people thought the proposer’s deserved the privilege of proposing, then offers the accepters might once have considered unacceptable became acceptable.

In politics, as in life, you can’t take people for granted! You’d have thought that Labour had learnt this truth.  …

Science & Brexit

Science & Brexit

I wrote something more on immigration and Horizon, based on the report that the UK has had three applications for its super highly skilled visa scheme. I argue that the focus on prize winners is foolish, we need the next generation of prize winners, and that being out of Horizon Europe makes UK based innovators less attractive collaborators. I make a cheap crack about how this shows the emptiness of Sunak’s ambition to be a science super power. The article is on Linkedin and Medium, entitled, “Science, the UK and Horizon Europe, again”. It was followed up in the Independent.  …

Whose jobs are AI coming for?

Whose jobs are AI coming for?

McKinsey have produced a report on the role of generative AI on productivity and the future economy. The white paper can be found on their website. They launched the paper with a series of webinars, one of which I attended. The rest of this article describes my notes and thoughts ... I made a blog post on linkedin which I mirrored here, to see the full article, either "Read More", or click the linkedin hyperlink.

Insurrectionists and the Presidency

Insurrectionists and the Presidency

In this video, Michael Pocock a lawyer correspondent on the Meidas Network expresses his delight at Baude and Paulsen’s white paper, “The Sweep and Force of Section 3” which argues that the 14th amendment to the Constitution prohibits Donald Trump from holding any federal office, including that of President as the clause forbids holding office by former office holders who then participate in insurrection or rebellion. Baude and Paulson are well known and respected judicial scholars and members of the Federalist Society and known supporters of the originalist doctrine of interpretation of the Constitution.They would seem not to be progressives and not natural opponents of the Republican Party.

The abstract is a powerful summary,

Section Three of the Fourteenth Amendment forbids holding office by former office holders who then participate in insurrection or rebellion. Because of a range of misperceptions and mistaken assumptions, Section Three’s full legal consequences have not been appreciated or enforced. This article corrects those mistakes by setting forth the full sweep and force of Section Three.

First, Section Three remains an enforceable part of the Constitution, not limited to the Civil War, and not effectively repealed by nineteenth century amnesty legislation. Second, Section Three is self-executing, operating as an immediate disqualification from office, without the need for additional action by Congress. It can and should be enforced by every official, state or federal, who judges qualifications. Third, to the extent of any conflict with prior constitutional rules, Section Three repeals, supersedes, or simply satisfies them. This includes the rules against bills of attainder or ex post facto laws, the Due Process Clause, and even the free speech principles of the First Amendment. Fourth, Section Three covers a broad range of conduct against the authority of the constitutional order, including many instances of indirect participation or support as “aid or comfort.” It covers a broad range of former offices, including the Presidency. And in particular, it disqualifies former President Donald Trump, and potentially many others, because of their participation in the attempted overthrow of the 2020 presidential election.

They argue that election officials may if not should, refuse to put his name on the ballot.

This story was also carried by MSNBC, in the Reidout, which I recommend viewing for the poetic way in which Joy Reid introduces the interview, starting from the Hollywood strike, and its tales of fantasy, to the dangerous application of these fantasies to modern US politics.

There is not great originality in this post and I have learnt that foreigners comment on the US politics are often unwelcome, but I think this should be read. It’s hard to find politicians with principles these days and when we find them, they need to be congratulated.

Baude, William and Paulsen, Michael Stokes, The Sweep and Force of Section Three (August 9, 2023). University of Pennsylvania Law Review, Vol. 172, 2024, Available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4532751


Image Credit: From wikimedia commons, authored by shutterbugsage, English: 14th Amendment sign at the entrance of the Brown v Board of Education Historical Site in Topeka, KS. …

Ralph Miliband on Labour’s last year in opposition

But that was in 1963, sixty years ago. Due to some personal reappraisals of my politics, I have been looking at the writing of Ralph Miliband and was pointed at an article he wrote in the run up to the 1964 election, called “If Labour wins”, republished in the New Left Review. I found it worth reading to observe the parallels between then and now. Wilson’s Labour were leading in the polls, the Tories had suffered the setbacks of Suez, and the Profumo affair and replaced a popular and powerful leader with a patrician land owner who was not even an MP arguable a stalemate choice between the then two leading Tory candidates.

This article contains a number of quotes from the article, as they speak for themselves, although of course I can’t help but comment. I have collected the quotes and comments into pieces on culture and comedy, economics, foreign affairs, corruption, campaigning and hope and the Labour left. … …

Tony Blair on today’s politics

Tony Blair on today’s politics

Tony Blair hosted an interview at a “Tony Blair institute” event with Keir Starmer. Some have announced this as his anointment of Sir Keir. Of much interest, has been the companion interview, published (£)  in the New Statesman, in which Tony Blair talks of the UK rejoining EU. The Independent reflect on this article and are joined by several youtubers, and John Crace, again in the Guardian.

In the New Statesman article, which is signed by Andrew Marr, it says, ‘Does he see any realistic prospect of going back into the EU, or even the customs union or single market? “Well, I believe at some point a future generation will take Britain back into Europe, and, you know, you just have to look at what’s happened.”’

To me, a future generation is 20 years away, optimistically, from 2016, and I wonder if the UK’s democracy and economy can wait that long. The conference and interview coincided with the first time polls report that a majority of the UK want to rejoin the EU and not just its single market. This point is made in the Independent article. The reason is two fold, some communities that believed the lies of the Leave campaigns, such as fishing and farming, have now experienced the impact of those lies in less jobs and higher prices and weaker export markets. The second reason is that as young people grow older and get the vote and older mainly leave voters die, again the majority opinion changes.

Of course, the usual Brexit cheerleaders interpret Blair’s comments as in contradiction to Starmer’s but the clue is in the phrase, a future generation.  

Labour’s leadership claim that it’s settled, I say, it’s not. Starmer’s terms for “Fixing Brexit” are a variation of cakeism, he only proposes what he thinks benefits the UK: student exchange, creative workers tours and professional services.  To them it remains solely about money, a continuation of our reputation as a nation of shop keepers.  It’s not good enough!

In later articles, Blair suggests that the UK can trade non-competent issue co-operation for part membership of the single market. I doubt this will fly, no co-operation on the criminal justice system without the Charter of Fundamental Rights and the Court. …

Mish Raman on the NEC

Mish Raman on the NEC

Mish Raman reports on the July NEC. He talks abiut membership, the Forde Report, the NPF, Conference, and the HQ premises.

On membership, he reports that the membership figure is 385,000 (net of those in arrears) which is 3,000 up on this time last year, but 10,000 down on the quarter. We are still waiting for the end 2022 numbers; my last review, [or on Medium] quotes from an NEC report at end June 2022 as ~382,000 although I may not be treating arrears in the same way.

They are winding up the Forde Report working group, failed to present the report to the NEC and plan to issue some codes of conduct for both members and senior officers of the organisation. I mean to write a review of what they’ve done, and what they have not, and what they plan to ignore; but the papers are on my personal server as well the Labour Party’s site’s Forde Report pge.

Martin Forde, the author of the report, would seem to be unhappy as the Guardian and others summarise the report, that Party is operating a “hierarchy of racism” and the the process remains insufficiently transparent, certain and free from factionalism.  At a meeting hosted by Compass he is reported, again in the Guardian as,

The top lawyer echoed his previous comments that the Labour party must take seriously concerns of black and asian members that their complaints are not being treated as seriously as those related to antisemitism. “It’s not enough to say, ‘I’ve been on a course’, and that means I’m untouchable.”

Mish reports on the proceedings of the National Policy Forum, saying that, “The final NPF document will be available after conference.” Which is worrying  as its report has usually been published in order that CLPs can seek to amend the report at Conference; from Mish’s words this may not bet the case.

The Conference exhibition will be the biggest ever it seems. Business returns to a party of government. The conference floor will surely be smaller, as the membership has declined and they now have a cap on the number of delegates.

It seems the HQ is now in Blackfriars but is going to move again, and the next NEC may meet in Scotland.

Check out this thread at Thread Reader App page, or at the first tweet on twitter. …