In a thought-provoking blog for the New Economics Foundation (NEF), Alfie Stirling has made the striking claim that the cumulative effect of austerity since 2010 has been to reduce the level of UK GDP in 2018/19 by 4.7%, or almost £100 billion. This is equivalent to “around £1,500 for every woman, man and child this year alone”. … Continue reading Is the UK economy £100bn smaller because of austerity?
At first sight there’s an obvious inconsistency between libertarianism and paternalism. The latter usually involves government actions which limit someone’s choices, even if the intention is to promote their own good. How can it be right (asks the libertarian) to restrict an individual’s freedom and autonomy just because the government thinks it knows better? Indeed, … Continue reading Nudge economics – can paternalism ever be libertarian?