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February 09, 2013


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Oh dear!

Does classical economics get anything right about so-called labour "markets" ?


Nothing says recovery like depressed wates.


I should really read the paper but Chris, maybe you can tell us whether they looked at government expenditure gross or net of cash transfers? I assume net, so that only expenditures on services where the government employs labour and capital are used.

Also I wonder what the bottom up view of labour usage by the state looks like. My guess is that the big direct purchases/ spend of the British state are on defence, healthcare and education. Does the data show that these are truly labour intensive? Are there other expenditure heads I am missing?


Does anyone know of any blogs whose content is similar to this one? If so if you could post them I would highly appreciate it.

Bernie G.

No one likes hard choices. It’s easier to throw a few quid at a problem than confront it. When the money dries up, however, choices have to be made. And you’re right about voting intentions: charity begins at home.


Why would you be more likely to vote tory if your wages are falling under their policies? Seems a odd way of thinking.


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