CIPD says pressing on with austerity measures would depress economy and lead to real-term wage cuts.
Eeeer. No shit Sherlock.
Unemployment forecast brings warning for George Osborne | Business | The Guardian
It's like I'm a half-demented taxi driver and you sit in the back - being polite but also appalled by my opinionated rantings and ravings.
CIPD says pressing on with austerity measures would depress economy and lead to real-term wage cuts.
Let’s take social science first. What is the most prestigious social science? Put it another way – which social science has a Nobel Prize all of its own? OK. The Nobel Prize for Media Studies? … No. It’s the Nobel Prize for economics. Economics is the top predator – economists are the physicists of social science. And who determines the content of economics and related research in accountancy and business studies? The financial sector. As the financier-turned-reformer Philip Augar has pointed out over the last thirty years ‘finance wrapped its tentacles around the relevant parts of the academic world … under these circumstances it is little wonder that so much academic research was supportive of the financial system’.
So academics supported the financial system and the consequences were disastrous – for the discipline, but, more importantly, for the wider society. Most academic economists had no idea that there was trouble ahead. In the words of Joseph Stiglitz – Nobel Prize-winner in, anyone? – in economics, that’s right –
‘If science is defined by its ability to forecast the future, the failure of much of the economics profession to see the crisis coming should be a cause of great concern’.
Given the performance of the economists it is not clear that the discipline qualifies as a science at all. It is as though physicists spent ages pushing an elephant up the stairs of the physics department and then expressed surprise at what happened when they heaved it off the roof.
"'There is a kind of Maoist revolution happening in a lot of areas like the health service, local government, reform, all this kind of stuff, which is in danger of getting out of control. We are trying to do too many things, actually,' he said.
'Some of them are Lib Dem inspired, but a lot of it is Tory inspired. The problem is not that they are Tory-inspired, but that they haven't thought them through. We should be putting a brake on it.'"
Vince Cable: I could end coalition | Politics | The Guardian
"Unlike, say, America and France, we use a single vote to determine both who we want to represent us in parliament and who we want to govern us. Unlike most European countries, we also have highly centralised government that (bar Scotland, Wales and, to a lesser extent, London) leaves the country with no alternative sources of political authority to Westminster and Whitehall. That one vote is more or less the sum total of the ordinary citizen's influence over how the country and its public services, from health to education, are run. And as we have seen, coalition largely destroys even that slither of influence."