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A few facts on the Green Belt. (Thread)
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The good news is the late Sir Roger Scruton may have found a politically-viable way forward.https://www.conservativehome.com/localgovernment/2020/01/ben-southwood-scrutons-final-gift-a-way-to-ensure-new-buildings-are-beautiful.html …
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If you're aiming for a more even distribution of skills-mix across the UK and in turn reversing regional decline, then the solution is to tackle the self-inflicted housing shortage.https://www.adamsmith.org/research/yimby
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But if high rents continue to drive skill-biased migration south then greater investment in skills, while beneficial to some, won't reduce regional disparities. After all, you can't tie workers to their region after you've trained them
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Why does this matter? One view argues the solution to regional inequality is greater investment in skills in poorer regions. It looks like the government accept this argument. https://www.theguardian.com/politics/2020/jan/30/sajid-javid-to-focus-on-skills-in-budget-to-hold-on-to-ex-labour-seats …pic.twitter.com/M7fTdZRxOf
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He cites a study looking at lawyers and janitors moving from the Deep South to New York. As rents have increased it is no longer worth it for janitors to move North, but it is still worth it for lawyers.pic.twitter.com/Q7Xn43JtsM
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Why is this?
@bswud explains: "Restrictive housing supply, which raises rents (and house prices), deters low-skilled movers much more than high-skilled movers, raising the average talent in the host city and cutting it in the sending city."Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo -
Has making it harder to move from the North to London made the North less productive? It may seem paradoxical, but the answer is yes.https://www.adamsmith.org/blog/regional-inequality-also-a-housing-supply-problem-1 …
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This is really stupid. I fear that without the UK as check on bad ideas, this is only the start.https://www.wired.co.uk/article/europe-gaia-x-cloud-amazon-google …
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New study: "For every one standard e-cigarette pod (a device that contains liquid nicotine in e-cigarettes) of 0.7 ml no longer purchased as a result of an e-cigarette tax, the same tax increases traditional cigarettes purchased by 6.2 extra packs." https://www.nber.org/papers/w26724#fromrss …pic.twitter.com/41CFl69GDI
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New Study: "Speaking with a distinctive regional accent reduces wages by an amount that is comparable to the gender wage gap" (In Germany). https://www.nber.org/papers/w26719#fromrss …pic.twitter.com/nQNGyZG0zb
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It may seem strange to non-economists, but this is a cost not a benefit of Brexit.https://www.ft.com/content/c4f0d1e2-4442-11ea-a43a-c4b328d9061c …
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We show that the 2016 Brexit Referendum led American corporations to cut jobs and investment within US (!) borders. https://www.nber.org/papers/w26714#fromrss …
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Furry, cute and drooling herpes: what to do with Florida's invasive monkeys?https://www.theguardian.com/environment/2019/dec/30/florida-monkeys-herpes-macaques …
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Dave Chappelle was right. Also, watch out for the loner at the back of the class taking notes, asking "Where are we supposed to meet again?" https://www.youtube.com/watch?v=M_ZOyusL8Y0 …https://twitter.com/nmconnell/status/1223802631035875328 …
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"Recent work on human capital ... stresses that the quality and competence of workers in the top few percent of the distribution mattered more to technological advances than the capabilities of the average worker". What are the policy implications?https://voxeu.org/article/human-capital-millwrights-and-industrialisation-18th-century-england …
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Neat explanation of the IP trade-off, looking at aircraft manufacturing. IP protection for airframes lead to more innovation in airframe design but less innovation in aircraft engines. https://voxeu.org/article/innovation-spillovers-and-market-structure …pic.twitter.com/9y0XBn2oCD
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Imagine being a 6 year old trying to convince your parents to buy stock in Dominos. https://twitter.com/mattyglesias/status/1223938648153960453 …
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Still struggling to get over this.https://twitter.com/TheSneerReview/status/1223405531358015495 …
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