Updating my favorite chart to summarize the state of the (real) economy. Squint one way, it looks healthy. Squint another, and you start to worry.

In light of current criticisms, I decided to switch from Newtonian to Leibnizian mathematics.

The Financial Times isn’t doing so well in its “critiques” of economics. The author doesn’t seem to know enough about the topic to say anything useful. But there seems to be a market for these kinds of vague broad brush criticisms.

It's a race of hot takes.

mainstream economics continues to rely on newtonian mathematics — using calculus to optimise, subject to constraints. this pales in comparison to my approach — putting caps on prices and simply ignoring the constraints

The Government has announced where it wants to build its twelve new towns. Here is my review. Short version: they've done quite a good job.

Well put.

We see AI everywhere except in the labor statistics.

Economists watching another FT article claiming all mainstream economists are wrong:

NEW: The share of children receiving disability support and the share on high-level special educational support have both doubled since 2016, and are forecast to keep rising. THREAD on @latimereduin, Luke Sibieta & Darcey Snape’s Nuffield Foundation-funded IFS Green Budget chapter:

In a chat the other day, someone doubted my claim that the post pandemic inflation has got us back to the Greenspan price level trend. Here's the evidence!

👇🏻

Blames the Baltics for Russian aggression while she presided over the dismantling of the German military and allowed Germany to become fully dependent on Russia for its energy supply.

More French unicorns in the US than in France.

Finally, someone says something sensible about this!!!

It’s real

I think I need to print this out and hang it in my office. Maybe there are other gems I could use to decorate my space?

The government is talking up the importance of ‘contribution’ and is planning a new ‘Unemployment Insurance’ benefit. What might that mean in practice? Well, for one thing, it might save the Treasury a few billion… Some great new Institute for Fiscal Studies work, with summary thread, below:

The European Union is a growth miracle.