From the TUC

Web links for 11th November 2009

11 Nov 2009, by in Web links

  • Polly Toynbee guts David Cameron’s ‘Big Society’ Hugo Young Lecture speech in a post on Comment is free
  • UNISON’s Heather Wakefield has a post on Public Finance’s blog on the trend to spending cuts in Councils’ services. Nottinghamshire has seen cuts of “£10.5m from services to the elderly and disabled, including an end to the Dial-A-Ride service, closure of four day centres, increased charges for day centres, transport, and meals-on-wheels and the sale of 13 residential care homes. Meanwhile, employees face pay cuts ranging from £2000 – £8000 a year, a three-day reduction in annual leave and lower essential car user allowances. And if losing your job isn’t bad enough for the 500 to be ‘let go’, the redundancy agreement is to be cut by a third.
  • Paul Ormerod demolishes the macro-economic consensus that allowed the crash to happen: “Modern macroeconomics, with its basis in rational agents and rational expectations (RARE), bears a heavy burden of responsibility for the financial crisis. The discipline provided the intellectual underpinning for a world in which situations involving risk led to it being systematically underestimated, and in which situations of genuine certainty were not recognized for what they were. It surely now is time to scrap once and for all this RARE view of the world. Central banks should ditch their DSGE models. Funding agencies should no longer support RARE proposals. The scientific evidence provided by the ‘experiment’ of the financial crisis should enable us to draw these conclusions.
  • Prime “You couldn’t make it up!” stuff from Liberal Conspiracy

2 Responses to Web links for 11th November 2009

  1. Chris Tansley
    Nov 16th 2009, 11:12 am

    Your blog on ‘unkind cuts’ from Heather Wakefield of Unison cites Nottingham city as having severe cuts – The Authority in question is in fact Tory controlled Nottinghamshire not Labour controlled Nottingham who would not be pleased with your mistake as they have not announced any cuts!

  2. ToUChstone
    Nov 16th 2009, 12:16 pm

    Thanks very much for that clarification Chris, and our apologies to Nottingham Council for the error! (It’s corrected in the post now).