Utopia, you are standing in it!

The House of Lords has amended the government’s Dissolution and Calling of Parliament Bill to require House of Commons approval for early general elections. Tom Fleming and Meg Russell explore what MPs should consider when the bill returns to the Commons. They argue that the Lords amendment deserves support, as it provides an important limit on Prime Ministers’ power to call early elections, and avoids drawing either the monarch or the courts into political controversy.

Background

The Dissolution and Calling of Parliament Bill seeks to change how early general elections are called in the UK. Specifically, it aims to restore the Prime Minister’s control of election timing, by repealing the Fixed-term Parliaments Act 2011 (FTPA).

Before 2011, general elections were required at least every five years. However, the Prime Minister could ask the monarch to dissolve parliament during that period, resulting in an earlier election. The FTPA removed this…

Gas producers love wind power because of its hopeless intermittency, which drives demand for gas and raises prices across the board.

No better example has been Europe’s months-long wind drought, when wind power output was little more than pitiful and the demand for gas, accordingly, went through the roof.

Craig Mackinlay explains the relationship below.

Green energy cannot save us
The Critic
Craig Mackinlay
10 February 2022

Amid the furore surrounding “birthdaycakegate”, “cheeseandwinegate” and “proseccogate”, which could still derail the premiership of Boris Johnson, the risks in Ukraine are looming large and the certainty of a cost of living crisis lies dead ahead. The government must deal with it. To restore trust with the wider public and the new voters who, perhaps for the first time voted Conservative in 2019, Boris Johnson has to show that he is the one with the solutions to the problems Britain is facing.

While…

Our series on the failure of Bidenomics has touched on four topics.

• Biden’s subsidy agenda will lead to higher prices and economic inefficiency.
• Biden’s inflation policy is mocked even by senior Democratic economists.
• Biden’s so-called Buy America policy hurts taxpayers and means fewer jobs.
• Biden’s statist agenda means families lose as prices rise faster than income.

For our fifth edition, let’s turn our attention to the president’s misguided fiscal policy.

This means analyzing three pieces of legislation.

First, his so-called stimulus was approved last year, adding $1.9 trillion to the nation’s fiscal burden. The president and his team claimed it would lead to four million additional jobs, but the net result was a drop in employment compared to the White House’s own projections.

Second, his costly infrastructure plan also was approved last year, though only a small fraction of new spending was actually for roads and…

As well to remember that all Roman literature was written by an elite for an elite about an elite, and is overwhelmingly conservative and traditionalist in tone. Even when they’re writing about farmers or ordinary citizens or soldiers, Roman writers are doing it from the perspective of privileged members of the literate, leisured classes. With the possible exception of the first two entries in the list, the comic playwrights Plautus and Terence, whose work features numerous slaves and tradesmen (often cooks) though here again, we should be cautious about treating these characters and their views as documentary evidence, as they are clearly based on standardised stereotypes.

This isn’t a comprehensive list of Roman authors, that would be much longer. These are the important Roman authors and this is by way of being an ideal or personal, reading list.

The Republic

Plautus (Titus Maccius Plautus, 254 to 184 BC) Plautus’s comedies…

Anne (February 6, 1665 – August 1, 1714) was Queen of England, Scotland and Ireland from 8 March 1702 to 1 May 1707. On 1 May 1707, under the Acts of Union, the kingdoms of England and Scotland united as a single sovereign state known as Great Britain. She continued to reign as Queen of Great Britain and Ireland until her death in 1714.

Anne was born at 11:39 p.m. on February 6, 1665 at St James’s Palace, London, the fourth child and second daughter of the Duke of York (afterwards King James II – VII), and his first wife, Anne Hyde.

Anne’s father was the younger brother of King Charles II, who ruled the three kingdoms of England, Scotland and Ireland, and her mother was the daughter of Lord Chancellor Edward Hyde, 1st Earl of Clarendon. The Duke and Duchess of York had eight children, but Anne and Mary…

That the West has become weak and silly, is best exemplified by its concerted efforts to wreck hitherto reliable and affordable energy supplies. While policy wonks will argue forever about the precise casus belli for Putin’s attack on Ukraine, it is unarguable that Europe’s insatiable demand for Russian oil and gas has allowed Putin to hold wind and solar obsessed Europe to ransom. His swagger and belligerence rests on the confidence that, without Russian oil and gas, Europe would grind to a halt, very quickly.

Hence, he has little to fear from Germany entering the fray; all he needs do is turn off the tap and he will cripple Germany, within a week.

Not so long ago, the Germans had an enviable fleet of coal-fired and nuclear power plants, which provided them with abundant electricity, whatever the weather. Not so, now.

Michael Shellenberger explains how its self-inflicted renewable energy disaster…

As part of my ongoing efforts to show that free enterprise produces better results than statism, I often use data on per-capita economic output – especially when comparing nations over long periods of time.

And I’ll sometimes build upon those numbers by comparing consumption levels in different nations.

But what if we’re looking at one country rather than several nations?

In the case of the United States, it is useful to peruse data on GDP and consumption, but I’m also a big fan of using the Census Bureau’s data on inflation-adjusted median household income (though even this data isn’t perfect because household sizes are declining over time).

These numbers allow us to gauge, over multi-year periods, whether government policies are making life better for average families. Or whether they are producing stagnation.

But what if we don’t have several years of data?

That’s a very relevant question…

I enjoy simple methods in economics. For economic history, which is my field of specialization, its often by constraint that I have to use them. Because of that, one has to be creative. In the process, however, one spots how well-used simple methods can be more powerful (both in terms of pedagogy and explanatory uses) than more advanced methods. Let me show you an example from Canadian history: the fur trade industry.

Yes, Canada’s mighty beaver! Generally known for its industriousness, the beaver has been mostly appreciated for its pelt which was the main export staple from Canada during the 17th and 18th centuries. In fact, if one is pressed to state what they think of when they think about Canada, fur pelts come in the top 10 (if not the top 5). It is thus unsurprising that there are hundreds of books on the business history of the fur…

No posts last week between some mix of the war news (including related economics and financial markets news) being more interesting, and Covid – in our house that is. Not being too sick, but not being entirely well either I wasn’t concentrating very hard for very long. Fortunately, the isolation is now half over and no one’s health is particularly concerning. So back to some domestic economics and policy.

The leader of the National Party yesterday gave what he billed as a “State of the Nation” speech. You can read it all here. It was, however, largely a tax speech. And – and I say this as someone who would really really like to be able to vote for National – it was pretty disappointing.

It wasn’t that I disagreed with any of the tax ideas – none of them very radical anyway. So when he committed to repealing…

Hopeless romantic? Or selfishly indulgent bon vivant? Controversial in the highest degree, Edward VIII is the only King of England to have ever willingly abdicated the throne. He also holds the record for being the shortest reigning British monarch (less than one year). Born Edward Albert Christian George Andrew Patrick David, the future king grew up with the nickname “David.” During his early lifetime, he was a popular man. He was raised by a cohort of nannies and occasionally by his priggish yet distant parents. Prince Edward served in the Navy and also in the army during World War I (however he was forbidden from actually engaging in combat). Intellectually, he was an underwhelming specimen –he attended Oxford for a spell but left without any academic qualifications.

During the reign of his father (George V), Prince Edward traveled the world where he quickly developed a reputation as a dashing…

In Part I of this series, I pointed out that Biden’s plethora of proposed handouts and subsidies would lead to higher prices and more inefficiency. And in Part II, I explained that his discussion of inflation was embarrassingly inaccurate.

In today’s column, we’re going to analyze his strident support for protectionist “Buy America” provisions, which drive up costs for taxpayers by making it harder for foreign firms to compete for government contracts and thus give American firms the ability to charge higher prices.

How much of a burden are these policies? How much more are taxpayers having to pay because governments can’t opt for the lowest qualified bidder?

According to research shared by the Peterson Institute for International Economics (PIIE), American taxpayers lose $94 billion per year.

The good news (if we have a very generous definition of “good”) is that procurement protectionism “only” pushes up costs in the United…

Joe Biden’s economic policy has been a disaster.

• He’s bad on the issues where Trump wasbad (spending and trade).
• He’s bad on the issues where Trump was good (most notably, taxes).
• And he’s bad on the issues where Trump had a mixedrecord (regulation).

Based on his track record as a long-time Senator, none of this is a surprise. According to vote ratings from the Club for Growth and National Taxpayers Union, Biden was to the left of even Crazy Bernie.

Unfortunately, a bad president (anyone remember Nixon?) can do a lot more damage than a bad senator.

Today is Part I of a series of columns analyzing Biden’s failure.

We’ll start with his so-called Build Back Better plan. Joe Biden didn’t explicitly mention “BBB” is his State of the Union address, but he did promote almost all of the specific policies that are in that…