From the TUC

Economics

New calls to reverse austerity on Newsnight

15 Oct 2014, by in Economics

On Newsnight last night (14 October), an editor on The Economist and a senior economist joined the OECD and IMF challenging austerity policies. Below I have transcribed some of the discussion on the potentially deflationary conditions in the world economy between Evan Davies (ED), Zanny Minton Beddoes (ZMB), the business affairs editor of The Economist,…

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Deflation watch

14 Oct 2014, by in Economics

The Chancellor today described the CPI inflation figure of 1.2% as a ‘double dose of good news’, apparently easing cost-of-living pressures and also meaning gains for pensioners through the ‘triple lock’. Sticking to the politics, he avoided the economics of inflation repeatedly surprising on the downside and yet remaining above earnings growth.

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A real earnings decline with no precedent

13 Oct 2014, by in Economics

In 2014, UK workers confront the seventh consecutive year of falling real earnings, a situation that has no historical precedent since Victorian times, when records become available. The total decline in real earnings from 2007 to 2014 is estimated at 8 per cent, on the basis of calendar year figures. In terms of scale or…

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Now they tell us. The IMF and infrastructure investment

07 Oct 2014, by in Economics

 The IMF have issued a new assessment of the effects and desirability of infrastructure investment. For some, their conclusions will hardly be surprising, but running contrary to the orthodoxy of the previous five years as well as the framing of the coming UK election – where nothing is more important than austerity – it is worth…

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The challenges facing Europe on pay

19 Sep 2014, by in Economics

Today’s Financial Times (£) dedicates a page to discussing the need to address wage rises among middle earners. This comes under the title ‘The big read: Equality’. It is the FT’s latest foray into the equality debate (there was an interesting piece by Gillian Tett last week). For the FT, champion of the free market,…

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‘Half a parrot': Commissioner László Andor challenges European Central Bank economics and policy

19 Sep 2014, by in Economics

László Andor, the outgoing EU Commissioner for Employment, Social Affairs and Inclusion, has just finished hosting a two-day conference: ‘Labour economics after the crisis: what theoretical lessons to draw from policy experience?’. This experience led ultimately to a call for increased public investment expenditures in the Euro Area. In his response to his own question,…

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