Forget inflation — the problem is falling real wages

No one under the age of about 50 has an adult memory of high inflation and falling behind wages.

John Quiggin's avatarJohn Quiggin

That’s the title of my new column in Independent Australia. I plan to write fortnightly from now on.

Now that quantitative easing is no longer needed, the problem is how to manage the huge increase in money balances that is driving demand. This is not a new problem; it arises every time a lot of spending is needed to handle an emergency, and we know what works and what does not. In the aftermath of World War I, governments in the UK and Australia sought to unwind the inflation created by wartime spending and return to the gold standard. The result was a long period of economic weakness, culminating in the Great Depression. By contrast, after World War II, wages and prices were allowed to rise, as wartime rationing ended and reconstruction gradually removed constraints on production.

As long as the real value of wages is maintained, a once-off…

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History of the Style “Majesty.”

liamfoley63's avatarEuropean Royal History

Majesty (abbreviated HM for His Majesty or Her Majesty, oral address Your Majesty; from the Latin maiestas, meaning “greatness”) is used as a manner of address by many monarchs, usually kings or queens.

Majesty is not a title but a formal term of address.

Where used, the style outranks the style of (Imperial/Royal) Highness, but is inferior to the style of Imperial Majesty. It has cognates in many other languages, especially of Europe.

Origin

Originally, during the Roman republic, the word maiestas was the legal term for the supreme status and dignity of the state, to be respected above everything else. This was crucially defined by the existence of a specific case, called laesa maiestas (in later French and English law, lèse-majesté), consisting of the violation of this supreme status.

Various acts such as celebrating a party on a day of public mourning, contempt of the various rites of the…

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My Latest Article in the Journal of Parliamentary and Political Law: How Governor General Lord Aberdeen Reinforced the Caretaker Convention and Dismissed Prime Minister Tupper from Office

J.W.J. Bowden's avatarJames Bowden's Blog

I first uncovered the correspondence in which Governor General Lord Aberdeen dismissed Prime Minister Sir Charles Tupper from office in July 1896 all the way back in 2012 while conducting research on something else. The documents have proven more fruitful and given me more ideas than I could ever have imagined at the time. But the material does not end with the correspondence between Aberdeen and Tupper. The Debates in the House of Commons between Tupper, then in opposition, and the new Prime Minister Sir Wilfrid Laurier, provided another fascinating take on these questions.

This latest article draws together all my analyses on this crucial precedent from 1896 with respect to the Caretaker Convention, when Governors General can dismiss Prime Ministers, the manner in which Governors General appoint Prime Ministers, whether Prime Ministers should…

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PBS – American Experience: Eyes On The Prize – #4/14 – No Easy Walk 1961–1963

adamsmith1922's avatarThe Inquiring Mind

About this episode from TV Guide

The rise of mass demonstrations in the civil-rights movement in the early 1960s—the largest of which was the march on Washington on Aug. 28, 1963. On that day, the Rev. Martin Luther King Jr. delivered his “I Have a Dream” speech. Also: children’s marches in Birmingham, Ala. Narrator: Julian Bond.

About this series

Wikipedia

Eyes on the Prize is an American television series and 14-part documentary about the Civil Rights Movement in the United States. The documentary originally aired on the PBS network and also aired in the United Kingdom on BBC2. Created and executive produced by Henry Hampton at the film production company Blackside and narrated by Julian Bond, the series uses archival footage, stills and interviews of participants and opponents of the movement. The title of the series is derived from the folk song “Keep Your Eyes…

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Guy Finds A Freezing Kitten While Hiking In The Snow | The Dodo

The Five Laws Of Stupidity

How Hugh Dowding and the RAF won the Battle of Britain

Conor McCormick: A law officer log: Recent developments concerning the office of Attorney General and its equivalents

UKCLA's avatarUK Constitutional Law Association

Today marks the publication of my book onThe Constitutional Legitimacy of Law Officers in the United Kingdom, which contains a detailed analysis of the functions exercised by each law officer in the UK and a conceptual analysis of their constitutional legitimacy. In this contribution, I offer some thoughts on the timeliness of the book and log some notable developments that have taken place just prior to its publication.

The book is coming out at a time when scholarly interest in the law officers is as sharp and lively as it has been for many years. Given the heat that so often surrounds their functions, it often seems like the law officers are inevitably destined for constitutional controversy. Despite that instinctive feeling, however, I do not believe that controversy is in fact an axiomatic corollary of the law officers’ roles.

I believe a clear understanding of the values which…

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‘Damn the secret ballot’: the UK’s public voting system before 1872

Philip Salmon's avatarThe Victorian Commons

As we approach next week’s online event celebrating the 150th anniversary of the act which introduced the secret ballot for municipal and parliamentary elections (event details here), it’s perhaps worth looking again at how the public voting system that served Britain for so many centuries worked. We’ve touched on public voting in earlier posts, but our ongoing research on Victorian politics continues to throw up new discoveries.

An election chairing scene

Public or ‘open’ voting is often associated with the most glaring iniquities of Victorian elections, including the consumption of vast amounts of alcohol, violence and the harassment of electors at the poll, as well as bribery and the intimidation of voters by employers and landlords. In parliamentary elections voters declared their choices orally, stating how they wished to vote in front of election officials and assembled spectators, so that everyone knew immediately what their choices were…

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DRACONIAN UN CLIMATE AGENDA EXPOSED : ‘Global Warming Fears Are A Tool For Political and Economic Change…It Has Nothing To Do With The Actual Climate’

Jamie Spry's avatarClimatism

UN DRACONIAN CLIMATE AGENDA.png UN AGENDA 2030


“This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for at least 150 years since the Industrial Revolution.” – Christiana Figueres (UN Climate Chief Says Communism Is Best To Fight Global Warming)

“We’ve got to ride this global warming issue.
Even if the theory of global warming is wrong,
we will be doing the right thing in terms of
economic and environmental policy.
“
– Timothy Wirth,
President of the UN Foundation

***

CLIMATE DEPOT’S Marc Morano nails the true intentions of the UN’s globalist ‘Climate Change’ agenda…

CLICK to watch >>

Watch - Morano on Fox News - France climate rebellion spreading – ‘Global warming_ fears are a tool for ‘political and economic_ change…it has nothing to do with the actual cWatch: Morano on Fox News: France climate rebellion spreading – ‘Global warming’ fears are a tool for ‘political and economic’ change…it has nothing…

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Markets for conservation, by assigning a price to environmental values, can help protect land from eminent domain

Jonathan Wood's avatarFREEcology

Concern about eminent domain has traditionally been a concern of property rights activists, not the environmental community. But that may be changing as conservation easements and voluntarily preserved lands proliferate. Those lands are uniquely vulnerable to the grasping hand of government because conservation lands may contribute little to the local tax base and their lack of development means they can be acquired more cheaply.

This weekend, the Philadelphia Business Journal reported on a Pennsylvania conservation organization that, even as it unveils its newest preserved property, must deal with it being eyed for government seizure.

The steward of a natural preserve in the tony suburb of Villanova is preparing for its public debut this Mother’s Day weekend. Yet in a few years time, visitors to the meadow-like grounds could stroll from the pergola to the sidelines of a soccer field on a seven-acre chunk of land the Lower Merion School District is…

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Why we are puzzled by the polls and what they are telling us about prospects of the Nats and ACT forming a government

tutere44's avatarPoint of Order

Here’s a  political  conundrum:   why  aren’t   Opposition  parties  doing better in the  opinion polls?

National’s  leadership  has  settled  in, and it’s fair to say support for the Nats has increased since Christopher Luxon replaced Judith Collins.  But the gains have been at the expense of ACT.

And  together,  the two parties  are not  polling  well  enough  to  form a  government on  their own.

It will be worth watching to see if ACT does better after  holding an upbeat  conference last weekend,  oozing confidence levels which  party leader  David  Seymour  might  not  have  recognised  just  five or  so years  ago.

But meanwhile it might take only the suggestion of  a  success  or  two  for  the  government to  turn  around  the  slump  in its  fortunes.

So  far  there  is  no  sign  of that turnaround.

A  government   which began with a  show  of  capability,  if  not in a  blaze  of  glory, is  now…

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Image

Spot on

PBS – American Experience: Eyes On The Prize – #3/14 – Ain’t Scared of Your Jails 1960–1961

adamsmith1922's avatarThe Inquiring Mind

About this episode from TV Guide

A Feb. 1, 1960 sit-in by four blacks who were refused service at a Greensboro, N.C., lunch counter, which launched a nationwide movement among black collegians. Also: the formation of the Student Nonviolent Coordinating Committee, some of whose members participated in CORE-sponsored Freedom Rides to protest discrimination by bus lines.

About this series

Wikipedia

Eyes on the Prize is an American television series and 14-part documentary about the Civil Rights Movement in the United States. The documentary originally aired on the PBS network and also aired in the United Kingdom on BBC2. Created and executive produced by Henry Hampton at the film production company Blackside and narrated by Julian Bond, the series uses archival footage, stills and interviews of participants and opponents of the movement. The title of the series is derived from the folk song “Keep Your Eyes…

View original post 168 more words

Binks | Red Dwarf

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