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Plenty to admire from Ben here as usual. The argument is of course right from first principle: 'experts' advise, 'democracy' decides. We should certainly be wary of technocratic answers to political questions. But I think the piece makes a couple of missteps along the way 1/

NEFs recommendations actually push to reduce technocratic power by increasing the formal accountability & balance of advice (with positive spillovers for media debate too). Clearer separation between advice & political judgement also increases accountability for politicians. 6/

Great from Alfie Stirling in response to Ben Zaranko straw person arguments. Ben mis-leadingly says the NEF proposal delegates more powers to technocrats, the authors contend it reduces the proportion of technocratic power, and institutionalizes more democratic checks&balances.

Chris Giles Jamie Smith yes, it's about ending the net interest margin windfall for banks who hold large amounts of reserves.

"O objeto de estudo do economista é a sociedade... fazê-la resiliente, sustentável e livre de todas as formas de opressão e exploração..." (Alves, 2024 [2007]) Trabalho, Valor e Capitalismo: Um estudo da Miséria da Filosofia (1847) de Karl Marx Available loja.editoradialetica.com/humanidades/tr…

Men on the internet, yes I know there are microbreweries out there - my lovely city Bristol has the best ones! Here is my favourite, try it if you ever have the chance and chill wiperandtrue.com/collections/be…

A spending package of £2bn, let alone £200bn, would go through an onerous process of debate. Whether the solution is windfall taxes, tiered reserves, better regulation - the huge income transfers to the banking sector merit democratic scrutiny. As Danny Dyer said, 'Lets Have It'

𝗙𝗔𝗕𝗜𝗔𝗡 𝗥𝗘𝗣𝗢𝗥𝗧 Britain's economic challenges of low growth, climate change, and stagnant wages are interconnected. In 2023's "In Tandem", Michael Jacobs, @JoMichell & Frank_van_Lerven advocate for a coordinated approach. Read here 👇 fabians.org.uk/publication/in…

Before my ILR I had trouble getting back to the U.K. … now I have trouble leaving the U.K. 🙄🤔 Home Office British Airways

British Airways The latest guidance is that I can’t travel. I have to be in Mexico for work tomorrow… you have the ILR card number. Home Office why isn’t this number enough for British Airways if it is enough for you when I get in the YK? British Airways is stricter than the Home Office?

I really wish Simon and other economists would take the next step here and forcefully make the case for fair, targeted and revenue raising tax reform. If this is so inevitable let’s convince politicians that tax reform can be a good thing & start debating how it could look like.

Delighted to be promoted to Full Professor in Economics and Finance UCL Institute for Innovation and Public Purpose. Big thanks to those who helped along the way Tony Greenham Mariana Mazzucato @katie_kedward @rainerkattel Frank_van_Lerven Laurie Macfarlane Dirk Bezemer Alexander Barkawi Professor Richard A. Werner Toby Lloyd Daniela Gabor

Very big congratulations to my friend, former colleague and someone I owe so much too. Could not be happier for you! If you are on twitter and interested in Macro - make sure you are following Professor Josh Ryan Collins!

Just sent off the draft of Money and Things to the publisher -- @arjun_jayadev's and my 180,000-word manuscript on the nature of money. Coming next year, knock on wood.

Interested in inflation, how to fight it, monetary policy, and its possible roles in decarbonisation, housing and full employment? You bring 1-2 years of professional experience (e.g. in a central bank)? Come work with us at Dezernat Zukunft @dezernatzukunft.bsky.social! dezernatzukunft.org/en/about-us/#j… Any q's => dm me

North and South Korean athletes take a selfie together at the Olympics x.com/i/status/18185…

What role does the financial system play in the destruction of critical ecosystems? New UCL Institute for Innovation and Public Purpose Global Systems Institute WP is a first attempt to track fin. flows supporting firms contributing to ecosystem tipping points in the Amazon & Indonesian peatlands (1/9) ucl.ac.uk/bartlett/publi…

"If you organise your life around trying to please everyone, you'll find you fail every day." Jurgen Klopp, 30/10/2024

Output per hours worked ("labor productivity") has increased *much* more in the US than in other advanced economies since the pandemic. Maybe using an economic policy strategy aimed at running the economy hot was not a bad idea after all? chart via Joey Politano 🏳️‍🌈

Fantastic macro data source for 243 countries - GDP, inflation, government finance, trade, unemployment, interest rates etc. - open-source - continuously updated - unification and extension of existing resources (IMF, World Bank, and OECD) with historical records: