Sadly, being The Guardian, it manages to give the wrong answer to the right question but still, we should all be happy with advances in understanding and civilisation, however small they are.
The subject they want to discuss is state investment as opposed to private sector. They are, of course, on the side of there being more investment directed by pinheads in the civil service rather than by people who actually do things for a living. They also make a number of mistakes while doing so:
This is ideological. Mr Sunak will not invest on the scale that Britain desperately needs because it will risk his self-imposed borrowing limits. The Conservative manifesto in 2019 said that while the Treasury could borrow to invest, this could not exceed 3% of GDP on average. Mr Sunak’s splurge will come in under this rule. Given its historic levels of underinvestment, it is astonishing that the UK will invest less than the international average of 3.5%. Investment is crucial in any economic recovery from coronavirus and for dealing with the climate emergency.
The Guardian's comeback there is not just ideological it is also begging the question. For the measure being used is of government investment, not total investment. So, their statement is that we must discuss whether or not government should invest by reference to the level by which other governments invest. Not, as might be more useful, look at the portion of investment which is done by government, which by private sector economic actors.
I think we're all onboard with the idea that a company operating in a certain place should obey the law in that place? We are? Good.
Except that's not actually the demand of the woke in this day and age. Apparently people should only obey the laws approved of by said woke.
Take, for example, Alex Cobham and the Tax Justice peeps. India has decided - for whatever reason, doesn't matter - that investment poured into the country via Mauritius doesn't pay tax in the same manner as that made more directly. This might be a good thing, might be a bad, that's another matter. But this is what the Indian government has decided and has passed laws to make it so.
Yet when someone invests through Mauritius and thereby entirely and wholly obeys Indian tax law this is tax abuse and should not stand. Obeying laws that Alex Cobham and Tax...
Germans will - likely - have to pay for Italian government spending. This is exactly what the Bundesbank was worried would happen. Exactly what they strived to make sure would not happen. And this is exactly what is being propose and almost certainly will happen:
And yet in truth, it should probably have been coined by an Italian. Why? Because the country now owes so much money to the rest of the eurozone it looks about to hijack the whole system.
With Italian debt soaring as it pays for one of the worst outbreaks of Covid-19, on the back of one of the world’s weakest economies, calls are being made for that debt to be ‘forgiven’. Riccardo Fraccaro, the Prime Minister Giuseppe Conte’s closest aide, has started demanding the ‘cancelling of sovereign bonds bought during the pandemic or perpetually extending their maturity’ (which is sort of the same thing, since a...
Firing squad deployed for death row backlog
Err, no. Sure, The Donald is speeding up - resuming possibly - the application of the federal death penalty. But they've not now said that they can shoot them. Instead:
Having reinstated federal capital punishment the Trump administration is scrambling to expand the number of ways that the federal government can execute prisoners before the president leaves office in January.
The default method is lethal injection unless a judge specifically orders otherwise but under a rule scheduled to take effect next month, death by firing squad and by electrocution are among the extra methods that will be permitted.
The proposal brings federal executions into line with the varied means available to executioners in individual states, such as Alabama, where prisoners can elect to be killed by electrocution or nitrogen hypoxia (a lethal gas dose) instead of by deadly injection.
In Utah a 2015 law states that a...
Presumably all the real problems in the world are solved now that we've got people whingeing about convenient retail. Which is what is happening here with the new Amazon Must Pay campaign. Technological change now means that retail over the internet works. Lots of people like this. The price pressures from it - oft dubbed The Amazon Effect - have reduced, at least, inflation by 0.5%. The other way of looking at this is a rise in real wages for everyone of 0.5%. Not a huge amount you might say but that is also, by definition, 0.5% of GDP. Which, for Europe and North America is about $40 trillion a year. Or, running that through the back of the envelope calculator, consumers are better off by $200 billion a year, each and every year, as a result of the existence of Amazon. They're better off by that amount at...