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Chris Dillow Profile
Chris Dillow

@CJFDillow

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One of Rutland's most prominent Marxist economists.

Oakham
Joined January 2011
Don't wanna be here? Send us removal request.
@CJFDillow
Chris Dillow
4 years
It's odd how Cummings has so many "friends" willing to make fools of themselves to defend him, but none to help him with childcare.
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@CJFDillow
Chris Dillow
2 years
It's strange* how it's always footballers & bishops who should keep out of politics, but never hedge fund managers. * Not at all strange.
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@CJFDillow
Chris Dillow
7 months
Customers didn't have to pay more for their washing powder to help prevent Wilko going bust. Energy firms should be no different. That Ofgem thinks this is remotely acceptable is evidence of regulatory capture.
@SkyNews
Sky News
7 months
Households could face a one-off charge of ยฃ17 a year to help prevent energy suppliers from going bust ๐Ÿ‘‡
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@CJFDillow
Chris Dillow
2 years
#r4today giving a platform to Ian Maxwell to protest his sister's innocence shows two features of BBC news: a class bias (do working class nonces get the same privilege?); and a prioritizing of "balance" so that a jury verdict has no more weight than some guy's opinion.
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@CJFDillow
Chris Dillow
3 years
That "suspiciously" is so loaded with class hatred.
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@CJFDillow
Chris Dillow
2 years
One oddity of the Truss govt is its sheer randomness. "We don't want to tell people what to do": we want to criminalize cannabis. "We're pro-growth": we're banning solar farms. It's policy-making by tombola.
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@CJFDillow
Chris Dillow
2 years
That's ยฃ1578pa less for households to spend on other things - which means closures of pubs, shops & restaurants. This isn't just a catastrophe for the worst-off: it's disaster for almost everyone.
@MartinSLewis
Martin Lewis
2 years
BREAKING: @Ofgem says the energy price cap'll rise an avg 80% on 1 Oct, taking typical bills from ยฃ1,971/yr to ยฃ3,549/yr. Iโ€™ll tweet on the new standing charge & unit rates ASAP, plus as it varies by region & use, once we've data, link to our new personalised price calc.
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@CJFDillow
Chris Dillow
1 year
There are valid arguments against nationalization. But the "cost" is not one: you're buying an income stream. The fact that this drivel isn't laughed out of existence shows how debased the political discourse is.
@SaulStaniforth
Saul Staniforth
1 year
Labours Thangam Debbonaire says the next Labour govt won't take our failed privatised water industry into public ownership because of the cost. Why not issue bonds? But then of course, cost is simply an excuse to mask the Labour rights ideological oposition to public ownership.
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@CJFDillow
Chris Dillow
6 years
I don't consider myself a Corbynista: too much moralistic posturing for me. But I am anti-anti-Corbyn: his critics seem clueless about the crisis of capitalism
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@CJFDillow
Chris Dillow
5 years
This embodies a lot of what's wrong with political reporting - that journos prefer the theatre of politics to policy analysis and good governance.
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@CJFDillow
Chris Dillow
2 years
The distinctive feature of posh people is not their ability, but their sense of entitlement.
@professor_dave
David K Smith
2 years
Emma Duncan - Education: Wycombe Abbey School, >ยฃ30k/year non boarding.
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@CJFDillow
Chris Dillow
4 years
Blairism was a continuation of Thatcherism in some senses (eg low top tax rates, relaxed about growing income share to the 1%, similar share of govt spending in GDP), but not in others (eg NMW, tax credits). Why is this so difficult?
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@CJFDillow
Chris Dillow
5 years
If I'd been chairman of a bank that went bust, I'd keep quiet about economic illiteracy. But then, if I'd been the old Etonian chairman of a bank that went bust, I might lack the self-awareness & humility to do so.
@mattwridley
Matt Ridley
5 years
The economic illiteracy is strong in this one
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@CJFDillow
Chris Dillow
1 year
It is as affordable as we want it to be. Starmer is pulling off an old ruling class trick here - presenting their own preferences as some kind of economic necessity.
@ITVNewsPolitics
ITV News Politics
1 year
'I don't think 35% is affordable' Labour leader Sir Keir Starmer agrees that the pay demand from junior doctors is too much, but says the government must 'get round the table'
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@CJFDillow
Chris Dillow
1 month
In a free market, Thames Water would go bust & customers faced with rising prices would shop elsewhere. But then, Tories have never really believed in a free market; they only talked about it to justify transferring wealth to their cronies.
@faizashaheen
Faiza Shaheen
1 month
Thames Water bills could rise by up to 56% or ยฃ262 per year for average household by 2030. Why?! Because of the companies dodgy financing decisions since privatisation. Meanwhile, the CEO gets paid millions. They really do think weโ€™re mugs
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@CJFDillow
Chris Dillow
2 months
This could be one cause of low productivity growth. If we're handing our money over to sclerotic parts of the economy (landlords, utility companies etc) we've less to spend in dynamic sectors. as Ricardo pointed out.
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@CJFDillow
Chris Dillow
4 years
I was hoping that "Dontcha wish your PM was RLB" would catch on.
@PaulBrandITV
Paul Brand
4 years
๐ŸŽต Labour members in Manchester sing โ€œOh Rebecca Long-Baileyโ€ as she arrives for her speech. ๐ŸŽต Will Long-Bailey stick to the same tune as Jeremy Corbyn? Seems they hope so.
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@CJFDillow
Chris Dillow
4 years
Matthew Parris writes: "this Prime Minister is ultimately our [the electorate's] fault." This is absolutely right, and under-appreciated.
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@CJFDillow
Chris Dillow
3 years
What part of "fuck business" did people not understand?
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@CJFDillow
Chris Dillow
3 years
One lesson of Farage's career is that you can achieve big political change from outside parliament, if you have access to other levers of power. It's a paradox that whilst the left has for years spoken of extra-parliamentary action, it is the right that has best practised it.
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@CJFDillow
Chris Dillow
3 years
This shouldn't need saying, but as the Bullingdon club is trending it does: it is only anti-social behaviour if the poor do it; what the rich do is high jinks. At least learn the language of our class society.
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@CJFDillow
Chris Dillow
2 years
Price controls are normal in wartime (which is what this is from the pov of the energy "market"). What's also normal in wartime, though, are laws against profiteering - and not state aid for doing so.
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@CJFDillow
Chris Dillow
5 years
It's odd how some people care so much about freedom of movement as a threat to the low-paid but so worry little about other threats such as monopsony, weak unions, austerity, an inadequate welfare state, & capitalist stagnation. Cynics might almost think them guilty of bad faith
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@CJFDillow
Chris Dillow
4 years
Tories: you can live comfortably on a poverty income with a bit of ingenuity. Also Tories: slightly higher taxes will cause us misery.
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@CJFDillow
Chris Dillow
4 years
Perhaps if she did fewer tweets like this, and more tweets repeating Tory lies, her programme wouldn't be closing down.
@vicderbyshire
Victoria Derbyshire
4 years
Last year we exposed the scandalous conditions some people are living in in our capital city. Weโ€™ve been back to the estate to see what, if anything, has changed. And the council leader has this time agreed to come onto our programme, live 10am @BBCTwo @BBCNews
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@CJFDillow
Chris Dillow
5 years
"Reasoning will never make a Man correct an ill Opinion, which by Reasoning he never acquired" - Jonathan Swift. This is why "debating" the far right is pointless.
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@CJFDillow
Chris Dillow
2 years
If Steve Baker cared about freedom, he'd oppose the govt's stripping people of their citizenship & criminalizing protest. Wanting freedom only for people like yourself isn't libertarianism; it's narcissism.
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@CJFDillow
Chris Dillow
2 years
"Conservatism consists of exactly one proposition, to wit: There must be in-groups whom the law protects but does not bind, alongside out-groups whom the law binds but does not protect" - Frank Wilhoit
@BBCNewsnight
BBC Newsnight
2 years
"It wasn't a crime" Conservative Desmond Swayne claims the picture of Boris Johnson at a gathering with bottles of wine took place at a "work meeting" #Newsnight
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@CJFDillow
Chris Dillow
5 years
It's strange how those people who are likening Johnson's neighbours to the Stasi for calling the police weren't so upset about someone photographing Diane Abbott drinking on a train. Their complaints aren't serious, but just mindless tribalism.
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@CJFDillow
Chris Dillow
5 months
Contrast Cleverly feeling comfortable enough to tell a date rape joke in public to Labour pols (eg Miliband as leader) being scared of their own shadows. That's the asymmetric influence of the media.
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@CJFDillow
Chris Dillow
2 years
Of today's 5.1% CPI inflation, just 3 components (representing 7.6% of the CPI basket) account for 2pp of it: used cars (where inflation is 27.1%), petrol (28.5%), & electricity & gas (23.2%). It's not obvious that higher rates are the solution to this.
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@CJFDillow
Chris Dillow
4 years
Those of you (rightly) praising Gordon Brown should consider that its his qualities we lose when voters & the media prefer "charisma" to competence.
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@CJFDillow
Chris Dillow
10 months
The NHS was created when UK govt debt was over 200% of GDP. As Keynes said, if we can do it we can afford it.
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@CJFDillow
Chris Dillow
14 days
Hypothesis: the UK's acute lack of management ability (across most industries) means that the railways will be poorly run whether in public or private hands.
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@CJFDillow
Chris Dillow
6 years
When I was preparing for my Oxford entrance exam, my teacher told me to study Irish history on the grounds that nobody knew anything about it so if I did I would stand out. Almost 40 years on, his point still holds.
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@CJFDillow
Chris Dillow
3 years
Socialism isn't about the size of government. It's about the ownership of assets. So let's not pretend Sunak's spending rises are "socialist".
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@CJFDillow
Chris Dillow
2 years
@flying_rodent @JonnElledge Quite. The fact that capitalism (at least in its UK form) is failing millions of people is one that cannot be discussed in polite society.
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@CJFDillow
Chris Dillow
3 years
In R4's 7.30am news the BBC said "taxpayers' money" has paid for the furlough scheme (it hasn't); that the UC cut will "save the govt up to ยฃ6bn"; & that higher grad loan repayments will "save ยฃ3bn of public money" (rather than cost people those amounts). This is not impartial.
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@CJFDillow
Chris Dillow
1 year
Not only can we not have nice things, we're fast approaching the point where we cannot even have rational discussion about whether to have nice things.
@gem_ste
Mr Demos of Pnyx
1 year
A real human being, a living, breathing, sentient human being has got so angry about the possibility of being able to nip out and back to the post office and the butchers in 10 minutes that they have painted this placard.
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@CJFDillow
Chris Dillow
10 months
There's no "harsh economic reality" requiring children to stay poor. If lifting them out of poverty would be inflationary, the solution is to raise tax or cut spending elsewhere. To not do this is a *choice*, not an economic necessity.
@ITVNewsPolitics
ITV News Politics
10 months
'There just, frankly, is no money left' Shadow culture secretary Lucy Powell says the Labour Party can't make promises it 'can't afford to keep' as she defends Keir Starmer's plan to keep the two-child benefit cap in place
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@CJFDillow
Chris Dillow
2 years
There are no systemic or institutional failings in UK politics, only the persistent bad luck of having the wrong people in charge. This opinion is of course absurd - but it's what many MPs & journos seem to believe.
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@CJFDillow
Chris Dillow
3 years
I didn't vote remain because I loved the EU. I did so because I didn't want the economic hit & to oppose the racists & reactionaries who supported Brexit. All this is still true.
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@CJFDillow
Chris Dillow
1 year
The great Andrew Glyn used to ask: what's the mechanism? Which is one qn (of several) we must ask here: what's the mechanism whereby an insurance model will produce more doctors, nurses & hospitals?
@Telegraph
The Telegraph
1 year
๐Ÿ”ด The NHS should move towards a European-style health insurance model or it will not โ€œsurvive many more years,โ€ Sajid Javid has warned
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@CJFDillow
Chris Dillow
4 years
There's lots of praise for Merkel for this. But it only tells us a basic fact about democracy: if you vote for a scientist you get a scientist, and if you vote for a comedian you get a comedian.
@BenjAlvarez1
Benjamin Alvarez
4 years
This is how Angela Merkel explained the effect of a higher #covid19 infection rate on the country's health system. This part of today's press conf was great, so I just added English subtitels for all non-German speakers. #flattenthecurve
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@CJFDillow
Chris Dillow
3 years
Digby Jones has done us a favour by reminding us that many mediocre posh men hate brilliant working class people. Meritocracy is a sham.
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@CJFDillow
Chris Dillow
4 years
People said a similar thing after 9/11: emergency services were more important than hedge fundies. That attitude didn't last, Inequality is determined more by the balance of class power than by sentiment.
@Freedland
Jonathan Freedland
4 years
โ€œIt turns out that we can function without celebrities or star athletes, but we really cannot function without nurses, doctors, care workers, delivery drivers, the stackers of supermarket shelves or, perhaps unexpectedly, good neighbours.โ€ My latest
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@CJFDillow
Chris Dillow
2 years
Those people opposing masks are NOT libertarian: if they were they'd be loudly opposing migration controls or the Police, Crime, Sentencing and Courts bill. They are just narcissists.
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@CJFDillow
Chris Dillow
3 years
If you don't want water companies pouring shit into the sea, you should switch to one that doesn't do so. That's how free markets work. Don't they?
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@CJFDillow
Chris Dillow
7 years
"Apart from that, Mrs Lincoln, what did you think of the play?"
@FlipChartRick
Rick ๐Ÿ‡บ๐Ÿ‡ฆ
7 years
Brexit & migration aside, Tory policies shouldn't trouble business, says @philipstephens
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@CJFDillow
Chris Dillow
3 years
Are there any other jobs paying around ยฃ80k pa where it's normal for folk to have a second job as well? Do (eg) accountancy firms have to allow employees to have side jobs for fear of losing talent?
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@CJFDillow
Chris Dillow
3 years
Liberals' attitude to radical change is like Jay in the Inbetweeners attitude to sex: obsessed with it, but terrified when it could become a reality.
@guardianopinion
Guardian Opinion
3 years
The Guardian view on Keir Starmerโ€™s party: reset and clarify what Labour is about | Editorial
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@CJFDillow
Chris Dillow
6 years
I became an economist because I'm left-handed: being unable to write much was a handicap in history/politics/philosophy exams, but not in economics, where I could do diagrams & equations instead #LeftHandersDay
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@CJFDillow
Chris Dillow
5 years
Everybody's pointing & laughing at James Delingpole. But this tells us something about the BBC: a tendency to draw on a narrow roster of (often posh) blowhards to the neglect of expertise. (No I'm not telling them to have me on: I wouldn't appear)
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@CJFDillow
Chris Dillow
3 years
At the time, officials thought the police acted fairly towards the Shrewsbury 24 and Birmingham 6; had acted in self-defence at Orgreave; and that the deaths at Hillsborough were accidents.
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@CJFDillow
Chris Dillow
4 years
The art of right-wing politics is to distract people from the fact of the material failures and injustices of capitalism. What's remarkable is how easily they can do this.
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@CJFDillow
Chris Dillow
3 years
Economists' main objection to Brexit wasn't that it'd cause short-term disruption at ports. It was that even small trade frictions would gradually reduce productivity growth relative to what it would otherwise be. Whatever happens next month doesn't invalidate this point.
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@CJFDillow
Chris Dillow
5 years
On Radio 4's PM, Priti Patel repeated Raab's claim this AM that this is a "great deal" for NI because they get "frictionless trade with the EU. As with Raab, the interviewer missed the obv qn: if frictionless trade is such a good thing, why can't the whole of the UK have it?
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@CJFDillow
Chris Dillow
2 years
I'm not surprised to see people defend Kwarteng/Truss: tribalism is a powerful force. What is surprising is how risible the defences are: FX traders are left-wing, the IMF is woke: and 2010-19 didn't happen. If I want to see clowns I'll go to the circus.
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@CJFDillow
Chris Dillow
4 years
I'd like Labour to tell us why the incomes of landlords should be protected more than those of small businesses. The latter's losses mean we risk losing a valuable asset if the business shuts: the former's don't (unless they burn the house down)
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@CJFDillow
Chris Dillow
2 years
Key qn in today's Budget: what inadequate gimmicks based upon a discredited ideology will the economically illiterate media be fawning over this afternoon?
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@CJFDillow
Chris Dillow
2 years
Since everybody else is seeing what they want to see in the P&O outrage, I'll join in. It's one of many symptoms of capitalist stagnation: companies that cannot raise efficiency or sales can sustain profits only by cutting pay and conditions.
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@CJFDillow
Chris Dillow
1 year
The idea that you can cheaply & easily reform an organization as large as the NHS in a country lacking state capacity & management skill is an example of what I've called centrist utopianism:
@SaulStaniforth
Saul Staniforth
1 year
Liz Kendall is asked how Labour are going to fund improvements to the NHS and social care. Kendall rules out taxing the wealthy, & pressed on how Labour will therefore be able to deliver those improvements, she emphasises the importance of reform. #Ridge
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@CJFDillow
Chris Dillow
5 years
Listening to Born in the USA in the gym reminded me that deindustrialization & its correlates, a sense of decline & threat to male identity, are themes that are 30+ years old. Which poses the qn: why did they only recently come to dominate US politics?
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@CJFDillow
Chris Dillow
3 years
Capitalist shocked to discover we live in a capitalist economy.
@kitmalthouse
Kit Malthouse MP
3 years
Too many of our people donโ€™t own anything. They have income, but no assets. Our challenge is to rebuild a country where everyone can start and grow their own balance sheet: homes, shares, savings, treasure. How can we expect people to be capitalists when they have no capital?
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@CJFDillow
Chris Dillow
4 years
Alasdair MacIntyre said that being expected to sacrifice one''s life for the modern nation-state was like being asked to die for the telephone company. Johnson now seems to be asking people to die for a branch of Pret.
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@CJFDillow
Chris Dillow
2 years
If there were an Economists' Party, it would campaign for liberal immigration; rejoining the single market; shifting taxes from income to land; relaxing planning laws; & not worrying about the national debt. It would be to the left of Labour, & would win absolutely no votes.
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@CJFDillow
Chris Dillow
4 years
Posh people can afford to say that politics doesn't matter much. For the person waiting weeks for UC, or facing benefit sanctions, or deportation, however, it matters enormously. Which is why the wrong people are in politics - those who don't have enough skin in the game.
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@CJFDillow
Chris Dillow
5 days
It would save a lot of misunderstandings if "political correspondents" were renamed "Westminster gossipmongers" - e.g. why do they give Reform more attention than the Greens?, why do they get so much wrong?
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@CJFDillow
Chris Dillow
2 years
I started working in equity markets weeks before the 1987 crash. I joined Nomura just before the start of Japan's long bear market. I became a journalist as the internet began to destroy jobs & pay. And today I'm retiring...
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@CJFDillow
Chris Dillow
2 years
Can we ditch the phrase "trickle down economics"? It's a straw man. Those who support tax cuts for the rich don't care whether the poor will benefit or not: any claim that they will is wishful thinking or bad faith.
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@CJFDillow
Chris Dillow
4 years
Those of you laughing at Burgon's idea for a Tony Benn University for political education should say where people could get a political education short of returning to school - coz it sure as hell isn't coming from the media.
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@CJFDillow
Chris Dillow
10 months
Starmer is acting as if public opinion if something fixed (& well-defined) rather than something to be changed by campaigning. Which is a problem, because the right has spent decades shaping that opinion.
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@CJFDillow
Chris Dillow
4 years
If it's true that kids are hungry because of bad parents, then the case for free school meals becomes even stronger. A key function of the state is to protect people from others' cruelty & incompetence.
@BBradley_Mans
Cllr Ben Bradley MP
4 years
Some do... dont think that's controversial to say, tbh. Some parents are not good parents and prioritise other things ahead of their kids. Small minority, yes... but some do. Step out of the PC bubble and come live in the real world.
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@CJFDillow
Chris Dillow
4 years
He's not being paid for his expertise, any more than Osborne is. JP Morgan is showing finance ministers around the world that there are big rewards to be had if you don't upset them.
@BBCPolitics
BBC Politics
4 years
Former Chancellor Sajid Javid returns to US bank JP Morgan as senior adviser He remains an MP
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@CJFDillow
Chris Dillow
3 years
Free marketeers: markets are better at processing information than individuals. Gilt market: government debt is not a problem. Free marketeers: no, the market is wrong.
@BBCNewsnight
BBC Newsnight
3 years
โ€œWe are living beyond our means in the good times and living way beyond our means in the bad times.โ€ Discussing public spending during the pandemic, the @iealondon 's DG @MarkJLittlewood says โ€œwe have to be realistic about how much the government is spendingโ€ #Newsnight
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@CJFDillow
Chris Dillow
4 years
The fact that the govt wants us back in offices whilst many large employers are happy for us to continue working from home reinforces the fact that the Tories are now the party of the most regressive sections of capital.
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@CJFDillow
Chris Dillow
11 months
Badenoch is wrong here. We don't "need to make sure Thames Water an entity survives." We need to keep water clean & running. It doesn't matter who does that.
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@CJFDillow
Chris Dillow
4 years
Private schools don't want poor kids going to Oxford for the same reason butchers don't want people to be vegetarians. I cant' believe anybody is stupid enough to think their arguments have any merit:
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@CJFDillow
Chris Dillow
3 years
Sunak just said "higher borrowing today means higher interest rates tomorrow". There's no historical evidence for that.
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@CJFDillow
Chris Dillow
3 years
The binding constraint on UK fiscal policy is not interest rates, solvency or inflation. It is the media - which means the constraint is much tighter for Labour than for the Tories.
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@CJFDillow
Chris Dillow
5 years
"Weak leadership, dreadful misjudgements and reckless gambles". That this account of Cameron's PMship can be so damning without mentioning austerity reminds just how contemptible he was:
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@CJFDillow
Chris Dillow
3 months
Being incapable of providing a candidate in a by-election in a safe seat is not a good look - especially when you have no principles, no ideas & no charisma and are campaigning only on the claim to be competent.
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@CJFDillow
Chris Dillow
4 months
This pattern is consistent with employment being a source of unhappiness. What a shame nobody ever wrote about alienation and unfreedom in it.
@TorstenBell
Torsten Bell
4 months
Men absolutely love being teenagers. And everyone likes being retired.
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@CJFDillow
Chris Dillow
2 years
Does he mean there'll be a deep recession within months of him becoming PM?
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@CJFDillow
Chris Dillow
4 years
Back in the 70s & 80s, the right had serious complaints: inflation, union power, high taxes. Today, their complaints are mostly trivial or imagined: mask-wearing, "cancel culture" etc. This is a big and under-appreciated change.
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Chris Dillow
3 years
We've surely gone beyond the issue of Johnson's character by now. The question is why so many people are happily complicit in his serial dishonesty, even after the Corbyn threat has passed. It's not about them being deceived: everybody knows what he is.
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@CJFDillow
Chris Dillow
2 years
The people who gave us these headlines are now telling us to go back to the days before central heating. They're just bad faith know-nothing tribalists who should be ignored.
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@CJFDillow
Chris Dillow
2 years
It's odd how we no longer hear so much about evidence-based policy now there's abundant evidence that neoliberalism is failing millions of people. What a coincidence.
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@CJFDillow
Chris Dillow
4 years
The people in this film are living through perhaps the greatest improvements in human history - the arrival of electricity, running water, cars - & for younger ones, radio, TV & flight. OTOH, they'll see the loss of cool hats.
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Chris Dillow
5 years
It's odd how bankrupticies & unemployment are a price worth paying for Brexit, whilst slightly higher top taxes are not a price worth paying for more equality & better public services:
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@CJFDillow
Chris Dillow
11 months
Most of us have at our fingertips the best music, books and films ever made. And yet many of you still watch Question Time. Have you not heard of opportunity cost?
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Chris Dillow
6 months
The fact that Maitlis doesn't seem to have come across Fetzer's theory until reading it in a minor celebrity's rant illustrates the point I made here - that journalism is often uninterested in social science:
@maitlis
emily m
6 months
Just come across this extraordinary passage in โฆ @mrjamesob โฉ bestseller โ€œ How they broke Britain โ€œ. Look at the impact austerity cuts had (- according to economist Fetzer- ) on the actual Brexit vote, in the light of this weekโ€™s changes.
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Chris Dillow
6 months
This is one reason why social mobility is a con: however well they do academically, working class people will stay shut out of the networks that boost earnings. The damage done by class society can't be healed by individual effort alone.
@guardiannews
Guardian news
6 months
Working-class people in UK โ€˜paid ยฃ6,000 less for same professional rolesโ€™
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Chris Dillow
2 years
People don't need tax cuts to become entrepreneurs: they need premises they can afford to heat & light. This is so obvious that only ideology can stop one seeing it.
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Chris Dillow
5 years
Note the position of the capo.
@carryonkeith
Keith Burge
5 years
"And I will tell 500 lies and I will tell 500 more..."
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