If you are a Keynesian, or proto-Keynesian then this chart is the key to understanding the continuing flat-lining of the UK economy; the continuing crisis in 'effective demand'.
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If you are a Keynesian, or proto-Keynesian then this chart is the key to understanding the continuing flat-lining of the UK economy; the continuing crisis in 'effective demand'.
Static effective demand driven by the costs of living crisis, compounded by the draining upwards of wealth is on of the UK's key problems... and reflecting stagnant productivity.
(Household consumption is a reasonable proxy for effective demand, as it reduces the effect of top 1% consumption).
@ChrisMayLA6 My OH asks is that graph inflation adjusted or is it in absolute £?
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The photo-Keynesian is also ... rather physics flavoured! Proto?
ha ha, thanks also now corrected - not have a good evening on the typo front, am i? Typo-spot much appreciated, thanks
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@ChrisMayLA6 My OH asks is that graph inflation adjusted or is it in absolute £?
as the data is from the ONS, I'm going to say inflation adjusted, although it doesn't actually say
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as the data is from the ONS, I'm going to say inflation adjusted, although it doesn't actually say
@ChrisMayLA6 Thanks.
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@ChrisMayLA6 wait why is that keyed to covid and not brexit
my guess is that the Brexit effect is the key - the pst covid trend, now includes Brexit issues after the big covid dip
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ha ha, thanks Alex... clearly channeling Barry White this evening - typo spot, very appreciated
@ChrisMayLA6 In this day and age, Barry White needs to be channeled much more!
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@ChrisMayLA6 In this day and age, Barry White needs to be channeled much more!
Indeed... by next gig, the day before Valentines, will have a Barry White medley for sure
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@ChrisMayLA6 In this day and age, Barry White needs to be channeled much more!
@alex_p_roe @ChrisMayLA6 one ticket please!
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Indeed... by next gig, the day before Valentines, will have a Barry White medley for sure
@ChrisMayLA6
It's the White thing to do! -
@ChrisMayLA6
I'm guessing that should be 'costs of living crisis', but I'm pretty sure that goes hand-in-hand with a 'costs of loving crisis'.Meanwhile, Starmer et al. have no idea of how to handle this, apart from more effective austerity.
@mplouffe @ChrisMayLA6 The Cost of Loving was an album title for the Stye Council in 1987 (I suspect Weller quite deliberately picked that pun due to the way the country was going back then, not dissimilar to today)
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@mplouffe @ChrisMayLA6 The Cost of Loving was an album title for the Stye Council in 1987 (I suspect Weller quite deliberately picked that pun due to the way the country was going back then, not dissimilar to today)
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If you are a Keynesian, or proto-Keynesian then this chart is the key to understanding the continuing flat-lining of the UK economy; the continuing crisis in 'effective demand'.
Static effective demand driven by the costs of living crisis, compounded by the draining upwards of wealth is on of the UK's key problems... and reflecting stagnant productivity.
(Household consumption is a reasonable proxy for effective demand, as it reduces the effect of top 1% consumption).
@ChrisMayLA6
Brexit or Covid? -
@ChrisMayLA6
Brexit or Covid?@raymaccarthy @ChrisMayLA6
Definitely Brexit. Flatlining started way before 2020 Jan. -
If you are a Keynesian, or proto-Keynesian then this chart is the key to understanding the continuing flat-lining of the UK economy; the continuing crisis in 'effective demand'.
Static effective demand driven by the costs of living crisis, compounded by the draining upwards of wealth is on of the UK's key problems... and reflecting stagnant productivity.
(Household consumption is a reasonable proxy for effective demand, as it reduces the effect of top 1% consumption).
@ChrisMayLA6 it wasn't just COVID at the time the graph flattened.
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