The coronavirus pandemic is of course primarily a social crisis, but the fiscal costs are also important. A sharp and sustained deterioration in the public finances could have major implications for future government spending and taxation. Many are already asking 'how will we pay for all this?' and worried about the prospect of 'Austerity 2.0'. … Continue reading How will we pay for all this?
Category: coronavirus
The pro and cons of extending the Brexit transition
It’s been impossible to ignore the calls for the UK government to announce that it will be seeking an extension to the Brexit transition period (or at least to make clear that it’s still keeping its options open) as a result of the coronavirus crisis. Here I review the arguments on both sides – before … Continue reading The pro and cons of extending the Brexit transition
What to make of the collapse in oil prices
Hard luck, Dr Bucky! On Monday (20th April) the price of a key US oil contract fell as low as minus $37.63 a barrel (yes, minus), meaning that holders were effectively paying others to take their oil away. This clearly needs some explaining. Is this new evidence that global demand is in freefall? And what … Continue reading What to make of the collapse in oil prices
‘Could Covid-19 vanquish neoliberalism?’ – a response to Thomas Fazi
The coronavirus crisis has reinvigorated some old debates about the role of the state and the pros and cons of free-market capitalism. Many of the new contributions from all sides have been insightful and constructive. Some, unfortunately, have not. One of the latter is a recent piece by Thomas Fazi, ‘Could Covid-19 vanquish neoliberalism?’, published … Continue reading ‘Could Covid-19 vanquish neoliberalism?’ – a response to Thomas Fazi
Plain-speaking Economics 