Instead, there was a fairly large rise in the number of new firms being created by people who were already a ‘person of significant control’ (the technical term used to describe the people who own and/or run these firms).

At the time, there was lots of talk about young people setting up bedroom businesses. There was a relative rise in the number of young people creating new firms, but this was from a low baseline and so the absolute numbers here are quite small.

Another way Covid was weird was that it accelerated firm creation during a recession. Who was starting new firms? To answer this question, we (@crahal.com & Naomi Muggleton) tracked every registered firm in the UK to discover who was capitalising on this crisis
link.springer.com/article/10.1...

Instead, there was a fairly large rise in the number of new firms being created by people who were already a ‘person of significant control’ (the technical term used to describe the people who own and/or run these firms).

At the time, there was lots of talk about young people setting up bedroom businesses. There was a relative rise in the number of young people creating new firms, but this was from a low baseline and so the absolute numbers here are quite small.

This was a bit of a surprise because the book isn’t out for a few weeks but pretty amazing to see it in stores. Thanks @pengzell.bsky.social

We have a cover and a publication date. It will be out on the 10th September. Nervous but excited! @samfriedman.bsky.social

If you like books on culture, elites, or politics you can pre-order here: www.waterstones.com/book/born-to...

It’s wild that a chat over Pret sandwiches w @samfriedman.bsky.social can eventually lead to a book. Out in Sept this year.

But we also found that the policy increased economic inactivity in part because it harmed mental health, suggesting that making people’s lives more difficult did not necessarily incentivise to find work. It actually pushed them away from labour market activity.

In fact, we find that many of those who became economically inactive actually started claiming disability related social security. In part this was because these were people who already bad health and who were eligible for disability related social security.

We followed ppl with a high and low risk of being capped before and after this change, tracking what happened to their labour market status. The main finding is this: the policy seems to have failed to get people into work

New paper (funded Nuffield Fdn) on the employment effects of UK's benefit cap. In late 2016, the cap (which limits the total amount of welfare ppl receive) was lowered. More people got less help from govt in the hope this would push them to find work onlinelibrary.wiley.com/doi/full/10....