Home Economics Rihanna Moving To London Kills British People

Rihanna Moving To London Kills British People

Author

Comments

If we are to accept the current economic storyline then Rihanna moving to London makes all of us Britons poorer. She is rich, she has upped the average income of the country – yea, even the median, as she’s an additional person in the country – by some amount. That means that some more of us have moved into that relative poverty which so murders us all in our beds.

Rihanna has staked a place near the top of the UK’s annual music rich list after moving to Britain last year, beating the likes of Mick Jagger, Elton John and Rod Stewart.

The 32-year-old singer, originally from Barbados, qualifies for the list for the first time after her surprise move to London and has an estimated fortune of £468m.

A sensible economics would note that she is now spending her money in London. Or at least some of it, however much is necessary to support the pop star lifestyle. That sensible economics would then conclude that some Britons are richer as a result of being the recipients of that spending and that, in aggregate, Britons are richer.

Fashionable economics on the other hand, as represented by the likes of the Spirit Level, will say that inequality has increased. Also, given that median income has now increased some more people will be below 60% of median household income. This is also, in that fashionable economic jargon, known as poverty having increased.

The Spirit Level, plus those deluded enough to believe it like Polly Toynbee, insists that if poverty increases then more people die. If inequality increases then more people, both rich and poor, die and die younger. The only reason they don’t insist that it’s screaming in agony in the streets is because even they think that would be a bit rich as a claim.

So, Rihanna moving to London kills Britons. If, that is, we’re so silly as to believe fashionable economics.

SUPPORT US WITH A SUBSCRIPTION?

2 COMMENTS

  1. Let me quickly demonstrate what a truly pointless metric “Relative Poverty” is:
    Would you like to know when, in recent years, we saw the biggest fall in families classed as living in relative poverty ….?
    It was for the two years after the financial crash.

    Why? Were poorer families better off?

    It would seem wildly unlikely given the financial squeeze affecting the whole country.

    No, they were no better off – indeed most would have been materially quite a lot worse off – but they were “lifted out” of relative poverty simply because the median income fell.

    So, what does that tell you about a poorer family’s level of poverty over that “golden period”?

    Absolutely nothing.

    Relative poverty is a wonderful metric if all you are looking for is a stat to bolster an emotive polemic. It offers a convenient stick with which to beat the Govt. Thus it is Owen Jones & Polly Toynbee’s favourite stat, to be wheeled out every time they want to “prove” that austerity has killed people.

    As a way to ACTUALLY describe, understand or tackle poverty it is practically useless.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

expunct

in British English
expunct (ɪkˈspʌŋkt)
VERB (transitive)
1. to delete or erase; blot out; obliterate
2. to wipe out or destroy

Support Us

Recent posts

The Racial Burden Of Student Debt

We had this argument a few years back in the UK, didn't we? Non-gammons seemed to have more student debt because gammons were more...

Insanely Ignorant People – American Prospect Edition

There are times when it's difficult to believe the plain, simple, ignorance of people attempting to comment upon the passing scene. Today's example is...

European Union Announces That EU Banks Don’t All Have To Go Bust Because Brexit

This story is being reported entirely the wrong way around. For we're being told that we should all be really grateful to that lovely...

Dear Guardian – Finding Uranium Is The Easy Bit

The Guardian is all of a fluster because some Chinese companies have been looking for uranium in Saudi Arabia. This is obviously the precursor...

Working From Home – A Briefing Note For Journalists

Hard as this will be for many British journalists to cope with - and impossible for American given that they all only studied journalism...

Recent comments