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Chris Purnell
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"Corporations did, however, produce thalidomide and DDT, though the adverse effects of these might have been partly unintended."
I think this is the most obnoxious use of the concept 'might' that I have ever seen. I think it's unworthy of you.
Restraining capital
Martin Wolf argues that Milton Friedman was wrong to claim that the only social responsibility of business is to increase profits. I agree with him, but I fear he under-rates two important facts: historical context and class power. Friedman thought (pdf) that profit maximization promoted the soc...
In wartime it's often asserted that people 'should' make sacrifices for others. Maybe they are awarded medals but they are making the decision. An imposed sacrifice of the kind that opening schools implies is something else altogether. Your piece is an insightful statement of that and is very welcome.
The politics of life & death
What, if anything, is wrong with the Kaldor-Hicks principle? This is the question raised by Chris Whitty’s argument that the benefits of reopening schools outweigh the costs of doing so. Even if we suppose that this is factually correct - which it might not be – it does not follow that it is rig...
Hidden unemployment is laughingly called a 'pool of labour' where employers can go fishing for cheap and cowed workers. No wonder this 'full' employment situation hasn't produced an up-tick in wages.
Mass under-employment
Today’s figures showed that unemployment fell slightly in the third quarter, pushing the unemployment rate down to 3.8%, its lowest since 1974. This, however, vastly under-estimates the amount of slack in the labour market. My chart shows the point. It shows that, in addition to the 1.3m offic...
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Nov 12, 2019
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