@BenChu_ Thanks for the analysis Ben and agree with it all. What’s your view on GDP as a measure of economic performance? So many flaws noted in @DianeCoyle1859 ‘s writings - should we not have a proper public discussion over its value in driving decisions and measuring progress?
@KateRaworth@RestIsPolitics@campbellclaret@RoryStewartUK I.e. “Explain how our current economic model can be sustained in the medium-term.” That this isn’t the starting question, suggests a lack of acceptance there is a problem looming or something else…? https://t.co/jw963yizug
@KateRaworth brilliant on @RestIsPolitics with @campbellclaret & @RoryStewartUK. Still amazing in 2023 that the question isn’t, by default reversed, so politicians/economists are required to answer, “how will you maintain a society overreaching earth’s carrying capacity?”
@JeremyNic666@EdConwaySky What’s in the “etc” box? We’ve not attracted any new industry, only lost it. The ones that have remained are supported by government. Services (e.g., finance) are a historical artefact. So the free market story, remains just that. Suggests we should humbly be open to other models
@JeremyNic666@EdConwaySky I think the point is it’s an example of an alternative model which was highly successful - see Japan’s car industry. Sometimes evidence is more compelling than economic stories. When was the last UK industrial success story…?
@JeremyNic666@EdConwaySky Yes. That was the economic strategy. Protectionism followed by gradual exposure to international competition, followed by international competitiveness and long-term success. The story of free markets is a powerful and empirically thin one. Maybe things don’t pop up from nothing
@JeremyNic666@EdConwaySky@JeremyNic666 have you ever studied the rise of South East Asian economies? “Wild Geese Flying” and Charles Gore’s writings about how domestic industries were developed into internationally competitive ones.
@s8mb Why are technology R&D and deployment mutually exclusive? Part of innovation is in the technology deployment (I.e., business model innovation, software, integration) and somewhere has to provide the demand pull - you run into a coordination problem if leaders pull back ambition.
@JeremyNic666@clim8resistance VW ID3 vs Golf. Comparable model list prices, £25k Golf and £31k ID3. Currently at motorway driving my ID3 costs 6.5p per mile. Petrol currently at 145p a litre. Assume 50mpg on motorways. 13.2p per mile. So over 100,000, TCO is £38,200 (Golf) & £37,500 (ID3). Comparable
@JeremyNic666@clim8resistance Even at current power & petrol prices, my EV per mile cost is under half that of a petrol car (assuming 50mpg and EV under motorway driving, where it is less efficient). The opex/caper trade off factors in, but the sniff test suggest that for TCO it is already competitive/better
@SkySportsPL@GNev2 good segment on VAR tonight. Why are we so obsessed with getting every single subjective decision “right”? It’s impossible and our efforts to try are ruining other parts of the game (ie being a fan).
@alanbeattie @rbrharrison Agree. 2010’s problem was aggregate demand deficit - that is not the problem of today. Osbourne and Truss both misunderstood the problem and policy response (analysis overridden by ideology in both cases).
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@chriskeating@guynewey@power_evergreen@RichardHalsey We have a Mitsubishi heat pump and by all accounts they won’t let controllers be applied. There seem to be a lot of integration issues at various levels which make the consumer experience more challenging that it should be