How do you decide what to read? Unless you have an infinite reading capacity like @tylercowen (ie see this feedproxy.google.com/~r/marginalrev…) I can't see how one can ever plan a reading schedule that doesn't leave a greater sense of dissatisfaction at what's left unread vs finished 1/
Context: suddenly finished Roosevelt biog and tech history by David Edgerton and wondering what next, and could not feel happy with any choice. My usual categories are: 2/
Worthy, recent-ish, "relevant" books about economy, tech etc. Like the monumental Age of Surveillance waiting for me, or Sapiens, or the infinite number claiming that the tech revolution is either over- or under-hyped. You highlight lots of bits but they're not really fun ...3/
Classics. If commitment phobic, essays of e.g. Montaigne or a story from Saki or the Decameron, but I've also tried Trollope and Maigret this year. But they feel infinite. Wondering when it's time to re-read the greats I polished off in my twenties 4/
Supposed escapism. Like the two Bourne novels I read this summer. But they can be quite badly written in bits and action can be hard to follow, and you feel like you gained nothing at all reading them 5/
The closest I come to real pleasure reading are the political biographies/memoirs, and really good histories. Possibly the best book of the last few years, Salisbury by Roberts. Is this a simple way of realising that this is ALL I should read though? Life too short, etc? 6/
And there's the huge areas where I realize I'm totally deficient. Totally. For example: I'm involved in politics/policy but have read virtually none of the great writers there that people refer to. Have no idea what you mean if you reference Oakeshott, Habermas, etc 7/
Bottom line: we are all in this position. The number of books we can read to total candidates ratio is tiny. Does anyone here have a method for addressing this that actually works for them? Is the idea of filling in gaps pointless?
Sorry, a very self-indulgent thread
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Reflection on yesterday's big moment from Reeves: this far, there's a pattern of the new government doing what was widely predicted, but still somehow managing to surprise on the upside in their delivery.
We all expected a "shocked face what a mess" moment...1/
It was visible from a distance that the Tories had set aside far too little spending to keep the public realm in a decent state, let alone deliver goodies like extra hospitals.
But the details, the vitriol and clear accusation of dishonesty were 🔥 2/
If the anger wasn't real, she's one helluva actor. The OBR's promised investigation into the circumstances of the last Budget means another big hit from this dishonesty accusation. It might build all summer, that narrative. They want it to land like 1992, like Truss...3/
When I saw that @IPPR (@GeorgeDibb and @carsjung specifically) had written a report eviscerating the UK's investment record, my first reaction was a shrug and "huh, yeah we know that". But it is well worth your time: 1/ ippr-org.files.svdcdn.com/production/Dow…
To start cheekily: it praises the Sunak/criticizes Labour's plans!
"The government’s plans for ‘full expensing’ capital allowances are a step in the right direction"
"a Starmer-led government would cut public investment more than the 2010-24 Conservative administration"
2/
Two: it is salutory to be reminded of how deep-seated is the UK's failure to invest.
If you are looking for culprits behind our growth failures, *you need to find big things*. This is a big one - £1.9tn cummulatively. Had that been invested, GDP would be much higher ... 3/
They share the Johnsonian Cakeist position that Green Growth is a three-fer - you win at growth, regional balance and environmental policy by going for it.
Most of us are reasonably convinced that Truss's economic programme (fwiw) was proven to have failed within a month. The market verdict was brutal.
But most policy isn't that clear.
I read a LOT of centre left pamphlet-speak calling for industrial policy ... 1/
which you could machine-write: "the UK needs a green innovative industrial strategy that invests in sectors of the future and cuts pollution while creating green jobs and rebalancing the economy/levelling up. It should borrow to do this/tax the rich".
What I seldom read... 2/
... is anything like a statement of what failure would look like. Give it 50 times longer than Truss - 5 years, say. What would force you to concede "this hasn't worked"? What metrics would count for evidence? Or is that too short?
"Budget blowouts and delays: why the UK struggles with infrastructure"
OK, this is a vitally important and *difficult* topic, and it plays directly into a subject I've been trying to force myself to think about: when markets or planning are better 1/on.ft.com/3S5WnbK
This observation crudely suggests to me that the UK has opted for the ever-more-market approach to doing stuff. Issue a tender, that gets sub-contracted and so on in an attempt to stimulate competitive dynamics that somehow produce the best outcome. But it hasn't worked! 2/
In my amateur estimation, we've been trying to exploit the insights of Hayek's Use of Knowledge in Society which emphasises the supreme knowledge difficulty of planning. But he understands that the right answer depends on circumstances! 3/ econlib.org/library/Essays…