Agonised estate agents are on the Today programme most mornings at the moment, worrying about the state of the housing market. Is it stagnating? Is it actually falling? Aaaaah! There is just a hint of Chicken-Licken about it.More
Last week’s news that the government is to start measuring subjective well-being sounded, as Jules Peck argued at Left Foot Forward last week, like very good news for progressives. Yesterday we heard more of the details of what is being proposed – with a vision that just might start to transform the business of policy-making. More
Back in 2002, nef published a report called Ghost Town Britain, which warned of the coming tipping point which could plunge many high streets into the kind of economic oblivion of shutters and old newspapers that afflicts so many town centres in North America.
Various factors seem to be coming together to sharpen that threat again. They include:More
Last year, as part of a project for a London-based charity, a colleague and I spoke to a number of people working in local government. We asked them how their day-to-day work related to well-being. Often, they were perplexed by the question. Their whole working lives had been spent trying to do things like improving the provision of services to vulnerable adults, or to create healthier local populations. Surely, they said, everything they did was about well-being.More
One year ago today, an unknown hacker penetrated climate science blog RealClimate’s server and began uploading 160MB of emails and other documents swiped from UEA’s Climatic Research Unit own servers on to it. Two days later, the stolen emails found their way on to another server, and were subsequently released into the public domain. The blogosphere stirred, spluttered and boiled over. Climategate had begun.More
Our report Where Did the Money Go? predicted that we were likely to be asked, as taxpayers, to bail out the banks a second time. This was not a new thought, which is why the report got less publicity than it might have done – but it isn’t a popular thought among the commentariat or the establishment either.More
"The essence of the contemporary monetary system is creation of money, out of nothing, by private banks often foolish lending."
These are the words, not of a monetary crank, but of The Financial Times' Chief Economics Commentator, a member of the national Independent Commission on Banking (ICB), and probably the most decorated and prestigious economics journalist in the country. Martin Wolf wrote them in an article last week defending the Federal Reserve's right to embark on a More
It always makes the heart sink to hear a senior politician pleading with the banks to lend more money. Even the threatening tone of voice carries little conviction. In fact, this constant harping on about how the banks should lend more – though of course they should – is actually delaying the real action required to make it happen.More