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Terry Barker Profile picture
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Nov 15 • 4 tweets • 1 min read
There’s a problem with the labour market term “economically inactive”. Those working at home are definitely not inactive. They are typically either caring for themselves or for other people.
In the #NationalStatistics those deemed to be “economically inactive”should be termed “Working at home” in contrast to those “ Working from home”. The change in terminology will emphasize that carers and household managers do work.
@CSOSue please note.
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More from @terry_barker21

Terry Barker Profile picture
Nov 12
Remarkably good economics from @BBCNewsnight Ben Chu. My view is that on the revenue side, the policies should include 1) freezing personal allowances, 2) raising the 45% tax rate to 50% and reduce the level at which it is paid from £150K to £100K,
3) merging income & capital gains tax to income tax allowances and rates, 4) removing #NonDom status, 5) promising immediate action to identify beneficial ownership of UK assets, 6) setup Committees to consider the benefits of #UBI & #WealthTax ,and
7) announce that @hmtreasury will support more transparency & coordination in UK policymaking.
Read 6 tweets
Terry Barker Profile picture
Nov 12
#COP27 This is very important. The world is on the brink of losing the opportunity to move together to avoid the risks of dangerous climate change. Maybe it will be a surprise to some, but #NetZero by 2040 or earlier may be actually economic.
However, simultaneously, we must square the circle, and ensure that policies focus on effectiveness and importantly on equity. It can be done.
Each country and sector, e.g. aviation & shipping, should be planning in detail how it will reduce its GHG emissions to achieve #NetZero
Read 5 tweets
Terry Barker Profile picture
Oct 22
New thread on the #SecondGFC follows.
So Moody’s has downgraded the UK as a “warning sign” re the volatility of £ & UK politics. One of the rating agencies that awarded top grades to junk bonds etc in the #GFC. A 100 yrs ago Moody himself gave the UK our now lost top rating. How times change. C/f £⬇️ since then.
Clearly governments were in charge of the markets then. And now, shockingly, markets seem to be in charge of governments! The “markets” are warning the UK to appoint the right finance minister and maybe PM. [lunch beckons, more to follow]
Read 15 tweets
Terry Barker Profile picture
Oct 22
Let’s be clear, BJ does *not* have a mandate to govern the UK. The meme comes from the populist plot to divide & create chaos. Incredibly, we are seeing Naomi Klein’s The Shock Doctrine (2007) in action. Our global political-economic-energy system #capitalism has been corrupted.
The UK’s unwritten constitution has the PM as primus inter pares, first among equals. He/She is not elected by popular demand, but in secret ballots in orderly elections. The UK’s constitutional checks & balances are in @HouseofCommons rules & procedures that BJ likes to flout.
So how has our Western version of #capitalism been corrupted? My guess is by the pursuit of money, and the gradual, insidious spread of insider trading in markets, the buying & selling of politicians & policies, and regulatory capture by those being regulated.
Read 9 tweets
Terry Barker Profile picture
Oct 21
I predict ever more political chaos. It has become a Trump-alike entertainment show, with Boris as the star. Fortunately, the MPs vote is secret, but arm twisting is Tory stockintrade. It’s becoming more nasty, even for the nasty party.
The showman returns. From the astonishingly sudden rise, via the Boris bots & former kippers, there is a hidden populist plot to return him to the premiership. I smell Steve Bannon behind the plot & Putin behind him. MAGA comes to the UK.
Imagine that his clique can really create #Boris cult. MOBO: Make Our Britain Ours again. Like the Barmy Army of old, but harmful rather than harmless. MOBO populist mobs will spring up, apparently spontaneously, loudly supporting #Boris for PM. If successful, more chaos ensues.
Read 7 tweets
Terry Barker Profile picture
Oct 21
Good people across the country recognize both that there is a climate crisis and a cost-of-living crisis. Remember how we can together during the pandemic to support and help each other. The twin crises demand it. Love our neighbours, literally.
In Cambridge I’ve been asking shop keepers how they are managing the inflation. I’ve been overwhelmed by their concern for their customers. Everyone remembers how we came together during the pandemic and the Queen’s funeral.
I asked how they coped with rising prices. Impressively, to a person, they keep prices constant until the prices of their suppliers go up, then they keep the same margins as before. This is ethical good behaviour and everyone understands and appreciates it.
Read 4 tweets

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