Watch now | In this Institute of Economic Affairs podcast, Callum Price is joined by Director General Lord Hannan and Editorial Director Kristian Niemietz to discuss three of the week’s biggest economic stories.
Very interesting conversations. So much to take in. Not in any particular order I’d like to comment on the discussion.
The price of milk that you referred to is in my view frozen (excuse the pun) by the supermarkets. It is one of a shopping bag full of items that go towards one or more of the price indexes. The cost of things like milk bread and potatoes go to account for the CPI or one of those indexes. So it’s been a gripe of mine that it appears to be artificially low for the reason to protect our government costs from the rises related to such indexes so those particular items seem not to rise at the same levels assay toothpaste or heating costs! I have no evidence of such a price cap but it’s just my observation that prices are disproportionate to rises on other goods. It seems too convenient that the prices used are those that haven’t changed much or don’t differ between Southampton and Northampton as you refer!
If they were not part of that calculation for prices then I’m sure they would cost more today than they do. I just have that feeling of a view. But thought I would share that view of mine with you.
So maybe you might not want to use milk as a good example of naturally low prices!
Of course price caps don’t work! Of course we can’t have a communist equalling society. That doesent work either. But to have some kind of level playing field is in my opinion totally achievable. Your assumptions that there is no leveller or can’t be one because capitalism can’t be an equal society is completely untrue. You’re just not thinking it through.
The reports view that growth isn’t needed is obviously wrong. So that point you have correct.
But your understanding that growth is ever increasing is similarly daft.
We have a very low GDP. So yes we can and should grow from this low point. But I would assert that there is an optimum possible in any one time frame. That is the possible high point achievable. And that if that point was reached then growth should level out somewhat.
Obviously if we were firing on all cylinders then like any engine we can only go so far at full throttle with the optimum velocity with the optimum capacity in the optimum time!
Those undermines are more or less calculable and more or less static say for the natural bounces of the speedometer that occurs naturally over different terrain and conditions.
Capitalism is in my view flawed. We see it every day. The inequality of a few rich over the majority of citizens on a much reduced earnings and or income. It’s obviously unequal. It’s obviously unfair and it’s obvious to me but missed by you that it’s totally undemocratic!
And for that alone, capitalism is flawed.
Now I’m all for getting paid more for doing a high risk job. Or if you are brilliant or just popular! I’m happy for those who get properly rewarded. It’s the incentive we need to strive. And to give us the opportunity to improve our lives and in so doing GROW.
But in my view that reward must be SPENT back in the fair exchange of our work WE have done. Not so cleverly or brilliant or dangerous or maybe because we’re not as popular.
You see the leveller should be that exchange of money in the Dane time frame! As that’s how you get GROWTH from the low point now to the optimum point we wish and work for.
Money is the token of and for exchange! It used to be paper and coin but increasingly of late digital money. The wealth we create is only rewarded by the same money that we all reward others and ourselves! The representation of that value of your work for mine is in that full exchange of money. To keep us you and me working. We all need payment. And payment for work is the optimum and non payment or non SPENT money is denying us of that exchange and denying us of the money we need to be paid to us to get the GROWTH you and I want and deserve but moreover as a democratic level playing field.
The wealth is in what we create and what is purchased and made and by everyone having sufficient money and income each month to give the GROWTH you talk about!
What is growth? If it’s not as a result if ALL money moving at the same time frame? As that’s the only way to get that optimum growth or any growth!?
The key sent entrepreneurs. It’s the remaining citizens having the money to constantly SPEND with those entrepreneurs and their customers need the return of that money to their pockets to keep SPENDING indefinitely autonomously and perpetually. Which gives you and us optimum growth.
Growth is made up of MONEY multiplied by SPENDING equaling REVENUE. The higher the money value in flow multiplied by the SPENDING of that money gives you the optimum economic revenue stream that gives the higher growth required to give the tax revenue stream to our government to SPEND on our behalf!
Tax is triggered by SPENDING. When an employer SPENDS on an employee income tax and Nic are triggered. When we all SPEND we trigger vat and duty. You name it tax is triggered by SPENDING or money having to be SPENT.
So the more SPENDING the more tax is gained from that new growth.
You can’t get growth from cuts! Or cutting SPENDING or not SPENDING MONEY.
Unspent money that banks use triggers no tax and doesn’t contribute to any revenue stream to grow!
So guys, will you start looking in the right place for growth? It’s in SPENDING MONEY all the time it’s earned or taxed.
No business can survive without punters with money to SPEND.
My opinion makes me feel we need a spend by date on all money digitally. An easy fix. But you may think differently but you can’t deny we need more money moving from a position now where money doesent have to be SPENT?
Come on! Debate that! It’s not making us equal. It’s just making our unequal money rewarded to be SPENT. That’s the common factor needed for our citizens. Not a few trillionaires and 99% of the rest on much lower holdings of money.
Very interesting conversations. So much to take in. Not in any particular order I’d like to comment on the discussion.
The price of milk that you referred to is in my view frozen (excuse the pun) by the supermarkets. It is one of a shopping bag full of items that go towards one or more of the price indexes. The cost of things like milk bread and potatoes go to account for the CPI or one of those indexes. So it’s been a gripe of mine that it appears to be artificially low for the reason to protect our government costs from the rises related to such indexes so those particular items seem not to rise at the same levels assay toothpaste or heating costs! I have no evidence of such a price cap but it’s just my observation that prices are disproportionate to rises on other goods. It seems too convenient that the prices used are those that haven’t changed much or don’t differ between Southampton and Northampton as you refer!
If they were not part of that calculation for prices then I’m sure they would cost more today than they do. I just have that feeling of a view. But thought I would share that view of mine with you.
So maybe you might not want to use milk as a good example of naturally low prices!
Of course price caps don’t work! Of course we can’t have a communist equalling society. That doesent work either. But to have some kind of level playing field is in my opinion totally achievable. Your assumptions that there is no leveller or can’t be one because capitalism can’t be an equal society is completely untrue. You’re just not thinking it through.
The reports view that growth isn’t needed is obviously wrong. So that point you have correct.
But your understanding that growth is ever increasing is similarly daft.
We have a very low GDP. So yes we can and should grow from this low point. But I would assert that there is an optimum possible in any one time frame. That is the possible high point achievable. And that if that point was reached then growth should level out somewhat.
Obviously if we were firing on all cylinders then like any engine we can only go so far at full throttle with the optimum velocity with the optimum capacity in the optimum time!
Those undermines are more or less calculable and more or less static say for the natural bounces of the speedometer that occurs naturally over different terrain and conditions.
Capitalism is in my view flawed. We see it every day. The inequality of a few rich over the majority of citizens on a much reduced earnings and or income. It’s obviously unequal. It’s obviously unfair and it’s obvious to me but missed by you that it’s totally undemocratic!
And for that alone, capitalism is flawed.
Now I’m all for getting paid more for doing a high risk job. Or if you are brilliant or just popular! I’m happy for those who get properly rewarded. It’s the incentive we need to strive. And to give us the opportunity to improve our lives and in so doing GROW.
But in my view that reward must be SPENT back in the fair exchange of our work WE have done. Not so cleverly or brilliant or dangerous or maybe because we’re not as popular.
You see the leveller should be that exchange of money in the Dane time frame! As that’s how you get GROWTH from the low point now to the optimum point we wish and work for.
Money is the token of and for exchange! It used to be paper and coin but increasingly of late digital money. The wealth we create is only rewarded by the same money that we all reward others and ourselves! The representation of that value of your work for mine is in that full exchange of money. To keep us you and me working. We all need payment. And payment for work is the optimum and non payment or non SPENT money is denying us of that exchange and denying us of the money we need to be paid to us to get the GROWTH you and I want and deserve but moreover as a democratic level playing field.
The wealth is in what we create and what is purchased and made and by everyone having sufficient money and income each month to give the GROWTH you talk about!
What is growth? If it’s not as a result if ALL money moving at the same time frame? As that’s the only way to get that optimum growth or any growth!?
The key sent entrepreneurs. It’s the remaining citizens having the money to constantly SPEND with those entrepreneurs and their customers need the return of that money to their pockets to keep SPENDING indefinitely autonomously and perpetually. Which gives you and us optimum growth.
Growth is made up of MONEY multiplied by SPENDING equaling REVENUE. The higher the money value in flow multiplied by the SPENDING of that money gives you the optimum economic revenue stream that gives the higher growth required to give the tax revenue stream to our government to SPEND on our behalf!
Tax is triggered by SPENDING. When an employer SPENDS on an employee income tax and Nic are triggered. When we all SPEND we trigger vat and duty. You name it tax is triggered by SPENDING or money having to be SPENT.
So the more SPENDING the more tax is gained from that new growth.
You can’t get growth from cuts! Or cutting SPENDING or not SPENDING MONEY.
Unspent money that banks use triggers no tax and doesn’t contribute to any revenue stream to grow!
So guys, will you start looking in the right place for growth? It’s in SPENDING MONEY all the time it’s earned or taxed.
No business can survive without punters with money to SPEND.
My opinion makes me feel we need a spend by date on all money digitally. An easy fix. But you may think differently but you can’t deny we need more money moving from a position now where money doesent have to be SPENT?
Come on! Debate that! It’s not making us equal. It’s just making our unequal money rewarded to be SPENT. That’s the common factor needed for our citizens. Not a few trillionaires and 99% of the rest on much lower holdings of money.