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Andrew Lilico Profile picture
@andrew_lilico
Jul 17, 2020 • 3 tweets • 1 min read • Read on X
I'm afraid the sad truth is that we don't deserve to go up now, having thrown away such a huge lead over such a sustained period, & squandered so many opportunities so consistently right to the end of the season. #baggies
I hope we'll sort ourselves out for next season. I guess we'll lose a lot of our better players. With a humbler quality team maybe we'll find some deeper team spirit. I'll still be cheering you, lads! #Baggies
I'm sure the boys will try in the play-offs but the momentum will be so strongly against us that it's hard to see us getting far. #baggies

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More from @andrew_lilico

Andrew Lilico Profile picture
Jan 2, 2023
Imagine public spending were as efficient as possible & also were arranged in a stack from the most growth-promoting/least growth-destroying to the least growth-promoting/most growth-destroying, over the long-term. There would be three basic zones. 🧵 1/
In the first zone extra public spending would boost growth. This would be spending on things like courts, police, competition authorities, maybe some spending on roads, & potentially some on welfare such as unemployment benefits. 2/
In the 2nd zone we'd have spending that, although it damaged growth, we got things in exchange that were sufficiently valuable it was worth the growth damage to get them, such as helping the poor, old or sick or boosting art & culture. 3/
Read 17 tweets
Andrew Lilico Profile picture
Dec 18, 2022
Recently I've been hearing a certain argument in favour of nationalising utilities. It goes as follows. The govt can secure investment capital at a lower cost than the private sector - eg govt debt is cheaper than private sector debt. 🧵 1/
Therefore, the argument goes, by funding investment in infrastructure-heavy sectors through the govt balance sheet the required returns on the sector will be less (since one won't be funding the higher capital returns the private sector would require), so prices can be lower. 2/
This argument is wrong. And it's important to grasp that it is wrong as a matter of fundamental finance theory, not because of some area of potential debate such as the relative efficiency of the management of privately- vs publicly-owned assets. 3/
Read 11 tweets
Andrew Lilico Profile picture
Nov 17, 2022
Remember 2014, when George Osborne was planning to get public spending down to 35% of GDP? In 2022/23 total public spending is expected to be 47.3% of GDP. That is more than 1/3 larger, relative to the size of the economy, than was scheduled only a few years ago!
*Why*? Public spending was only 39% of GDP before Covid. Perhaps it needed to be higher during Covid, but why is it justified for it to be so much higher, so many years later (still over 43% by 2027/28)?
The only conceivable reason is ideological. Someone has decided that Covid has changed the game, so that the state must in future must be much larger than before, relative to GDP. I don't subscribe to this point of view.
Read 4 tweets
Andrew Lilico Profile picture
Nov 14, 2022
Just for once, here goes. Some of the benefits of Brexit.
- Not being subject to EU regs designed for the Eurozone not for us, or more generally dominated by the Eurozone
- More flexible UK regs (quicker action; more u-turns)
- More targeted UK regs (no one size fits all)+
- EU itself works better without us so grows faster so we can export more to it (albeit not more than as EU members)
- Quicker non-EU FTAs (not slowed down by the interests of other EU members - interests irrelevant to us), & FTAs better-targeted at our needs
- End of the CAP+
- Less risk of Scotland leaving the Union (enhanced value of Britishness as an identity plus increased costs to Scotland of leaving)
- End of safety value effect on immigration (€ misfunction leading to €zone recessions triggering migration to UK via freedom of movement)+
Read 6 tweets
Andrew Lilico Profile picture
Nov 12, 2022
A policy question for you to ponder. Apparently there is a growing trend of pornographic artists using age-reducing apps to make themselves look younger. So, perhaps that handsome young man you admire is actually 45 not 23 as he appears.+
+The policy question is whether pornographic material that is paid for that uses age-adjusting apps should be required to disclose that age-adjustment has been deployed?+
+There are a few dimensions to this. Some are obvious - presumably most consumers of pornography would be disturbed to discover that the artists involved were actually under-age but made to appear older using technology.+
Read 12 tweets
Andrew Lilico Profile picture
Oct 18, 2022
I see that lots of folk have decided that the downfall of Truss demonstrates that what they term "libertarian" economics should never be attempted again. But which bit of Truss' "libertarian" agenda do they think was so bad?+
Was it the reform of planning? Or more generally the idea of attempting regulatory & infrastructure reforms to boost the long-term growth of the economy?+
Was it the concept of tax simplification - removing unnecessary complexity from the tax system - that they consider such a terrible idea?+
Read 6 tweets

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