Utopia, you are standing in it!

We are going through some tough economic times right now: high rates of inflation (generally exceeding wage growth) with the strong possibility of a recession in the near future. In times like this, I think it is useful to also consider the historical perspective. The US economy has gone through challenging times in the past, but the long-run track record is impressive.

Here is one way to show the data. It comes from the Census Bureau, and shows the total money income of households in the US. The data is, of course, adjusted for inflation, and not just with the regular CPI-U: they use the superior CPI-U-RS, which attempts to maintain a consistent methodology for how prices are measured (BLS is constantly improving the CPI, but that sometimes makes historical comparisons challenging). I present the data both as a percent of the total number of households, and the…

On June 22, 1948 King George VI formally gives up the title “Emperor of India”, half a year after Britain actually gave up its rule of India.

In this two part series I will discuss the history of the title of “Emperor/Empress of India” from it’s origin (Part I) to the abolishing of the title (Part II).

In 1858 after the nominal Mughal emperor Bahadur Shah Zafar was deposed at the conclusion of the Indian Rebellion of 1857, the government of the United Kingdom decided to transfer control of British India and its princely states from the mercantile East India Company (EIC) to the Crown, thus marking the beginning of the British Raj.

The EIC was officially dissolved on June 1, 1874, and the British prime minister, Benjamin Disraeli, decided to offer Queen Victoria the title “Empress of India” shortly afterwards. Victoria accepted this style on May 1, 1876. The…

This is one of the longest lives at 87 chapters, longer than Sertorius (27), Crassus (33), Cicero (49), Brutus (53), Caesar (69), Cato the Younger (73) or Pompey (80). Dates and other information in square brackets are not in Plutarch but content I’ve added in to make the account more accurate.

Plutarch’s life of Marcus Antonius

(1) Marcus Antonius [83 to 30] came from an undistinguished family. His grandfather was murdered during the purges of Marius in 87 BC. Plutarch tells an anecdote about how, when a friend came asking for money, all his father could give him was a bowl, and that when his wife discovered it was missing she threatened to torture all the slaves to find it until his father confessed to having given it away. (Torture all the slaves? So the references to torturing slaves to  establish something, as jokily referred to in the plays of…

Sellafield nuclear site, UK
Newcleo aims to build new small reactors that can consume spent fuel, although its designs are said to be at an early stage. The report states that ‘The UK has the largest civil plutonium stockpile in the world’. Units could be smaller SMR’s than Rolls-Royce plans to offer, and also sealed ones suitable for ships. Similar types of proposal have happened before, but seem to have fizzled out.
– – –
A nuclear power start-up is seeking to create clean energy out of 140 tonnes of waste plutonium stored in Cumbria as Britain scrambles to wean itself off fossil fuels, says the Daily Telegraph.

Newcleo hopes to use spent fuel deposited in Sellafield in a pioneering reactor design that will rival the small nuclear generators being developed by Rolls-Royce.

The proposals come as Boris Johnson seeks to usher in a nuclear revolution for Britain after…

Intermittent wind and solar are guarantee of rocketing power prices and rocketing power prices are a guarantee of economic destruction.

An energy-hungry world will never satisfy its needs by pinning consumers’ hopes on the weather. But that’s the model that our political betters have been pushing over the last 20 years.

How we landed in a situation where random power rationing and mass blackouts are treated as normal; how regular double-digit increases in power prices are to be expected, is all down to virtue signalling politics.

Our good friends, logic and reason were banished from the energy debate, long ago. Engineers don’t get a look in. Instead the field is now covered by the arts/law grads who became political staffers and then MPs, who apparently know everything there is to know about power generation. Just ask them.

But don’t expect a sensible answer, anytime soon.

Alan Moran provides a timely…

Edward III (November 13, 1312 – June 21, 1377) was King of England and Lord of Ireland from January 1327 until his death in 1377.

Edward was born at Windsor Castle on November 13, 1312, and was often called Edward of Windsor in his early years, before his accession.

Edward was the son of Edward II, King of England and Lord of Ireland and his wife Isabella of France (c. 1295 – August 22, 1358), sometimes described as the She-Wolf of France, was the youngest surviving child and only surviving daughter of King Philippe IV of France and Queen Joan I of Navarre.

The reign of his father, Edward II, was a particularly problematic period of English history. One source of contention was the king’s inactivity, and repeated failure, in the ongoing war with Scotland. Another controversial issue was the king’s exclusive patronage of a small group of royal favourites. The…

Wind and solar acolytes fail to mention that the ‘inevitable transition’ includes hours spent sitting freezing or boiling in the dark.

Power rationing by postcode is the new normal in Australia, as grid managers attempt to deal with the chaotic delivery of wind and solar. Former energy users are being encouraged not to use energy in order to prevent the grid from a total ‘system black’. And when encouragement fails, the grid manager simply cuts their access to power for hours on end.

New South Wales has a Liberal government hellbent on killing off their reliable coal-fired power plants in order to make way for more wind turbines and solar panels – on their current (woeful) performance, Matt Kean and his band of rent-seeking mates should be careful what they wish for.

Set out above – courtesy of Aneroid Energy – is the output from all of the whirling wonders…

The discussion about the Northern Ireland Protocol Bill is not new. Back in 2020, in the Internal Market Bill, the UK Government brought forth its volition to unilaterally amend the conditions of its Brexit agreement with the EU and several pieces were written then on the issue. In the last few days, the UK Government has returned to the issue which had in the meantime been frozen, by issuing though this time also a legal statement meant to embalm this initiative to the wider compliance of the UK with international law. Albeit the statement’s reference to the doctrine of necessity in international law is not convincing, the issuing per se of such statement, must be heralded as good news. In 2020, when the UK announced that it was ready to revise the Northern Ireland Protocol, the Secretary of State for Northern Ireland stated that the Bill would indeed break international…

Two weeks ago, the UK Government published its consultation document on Scotland’s Constitutional Future, in which it stated its view that the Scottish Parliament has no power to enact legislation authorising a referendum on the question whether Scotland should become independent from the United Kingdom.  Last week, the Scottish Government published its own consultation paper, Your Scotland, Your Referendum, claiming that the Scottish Parliament can validly authorise the asking of at least some questions about independence, although the document is ambiguous as to whether the Scottish Government believes that it has power to ask its preferred referendum question, namely ‘Do you agree that Scotland should become an independent country?’.

The legality or otherwise of an independence referendum is, from one perspective, a narrow point: a matter merely of process, which could be authoritatively resolved by an express grant of power from either the UK Government (under s.30 of the…

The Reserve Bank Governor appears to have been communing with his tree gods again, and last week released a speech he’d delivered online to an overseas audience headed “Why we embraced Te Ao Maori”. It isn’t clear quite how many people were in the audience for this commercial event run by the Central Banking (private business) publications group, but I’m guessing not many. The stream Orr spoke in featured just him, a panel discussion on how “digital finance can drive women’s inclusion”, and a presentation on “how can central banks put climate change at the core of the governance agenda”. While it was called the “governance stream”, a better label might be the woke feel-good stream, far removed from the purposes for which legislatures set up central banks.

In many ways, the smaller the overseas audience the better, and I guess his main target audience was probably domestic anyway…

Was the French 2022 honeymoon election one that defies the usual impact of such election timing? Not to offer a spoiler, but the answer is yes and no.

Back around the time of the presidential runoff, I restated what I often say about elections for assembly held shortly after a presidential election: they are not an opportunity for the voters to “check” the president they have just chosen; presidential and semi-presidential systems just do not work that way. Well, usually. It seems hard to escape the notion that voters did just that–by holding Emmanuel Macron’s allies in Ensemble to less than a majority of seats, and by delivering bigger than expected seat totals to the Mélenchon-led united left (Nupes) and even to Le Pen’s National Rally (RN).

There will not be cohabitation, which was what I really meant in the French context when saying that honeymoon elections were not an…