Jo Michell
@jomichell.bsky.social
Professor of economics at UWE Bristol. Chair of Post-Keynesian Economics Society. Interested in macro, finance, banking, climate change, inequality, demographics.
https://people.uwe.ac.uk/Person/JoMichell
https://people.uwe.ac.uk/Person/JoMichell
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Jo Michell
@jomichell.bsky.social
· Nov 22
Beyond Growth | Jo Michell
Can Labour rise to the politics of growth after fourteen years of stagnation?
www.phenomenalworld.org
Got a longish read in @phenomenalworld.bsky.social on the budget, Labour's economic strategy and UK political economy.
www.phenomenalworld.org/analysis/bey...
www.phenomenalworld.org/analysis/bey...
Reposted by Jo Michell
Always fun when crypto is melting down, but the fundamental problem is that it’s been mainstreamed by people who should know better and, frankly, have a duty of care to retail investors that they were happy to breach to chance crime-coin $s.
The finance community writ-large is so primed to the “listen to me to get rich” logic that they’re zugzwanging themselves into crypto-nihilism. But it’s still an abdication of duty to pitch it.
November 21, 2025 at 8:29 AM
Always fun when crypto is melting down, but the fundamental problem is that it’s been mainstreamed by people who should know better and, frankly, have a duty of care to retail investors that they were happy to breach to chance crime-coin $s.
Reposted by Jo Michell
Osborne repeatedly raised income tax thresholds, froze fuel duty, lowered corporation tax, as well as cutting the top rate of income tax in 2012
November 21, 2025 at 8:07 AM
Osborne repeatedly raised income tax thresholds, froze fuel duty, lowered corporation tax, as well as cutting the top rate of income tax in 2012
Made breakfast for the kids and three wickets are down!
November 21, 2025 at 8:06 AM
Made breakfast for the kids and three wickets are down!
Great charts in this, but I'm going to take issue with one sentence. These were political choices, not the unavoidable outcomes of a fiscal crisis.
November 21, 2025 at 7:34 AM
Great charts in this, but I'm going to take issue with one sentence. These were political choices, not the unavoidable outcomes of a fiscal crisis.
Reposted by Jo Michell
If you use GMail, AI (Gemini) was turned on yesterday by default and now scans all of your content for machine learning. To turn off, go to Settings>General and scroll down. Uncheck the box for "Smart features."
There's other "Smart" add-ons as well, but that's the one that reads your content.
There's other "Smart" add-ons as well, but that's the one that reads your content.
November 20, 2025 at 5:32 PM
If you use GMail, AI (Gemini) was turned on yesterday by default and now scans all of your content for machine learning. To turn off, go to Settings>General and scroll down. Uncheck the box for "Smart features."
There's other "Smart" add-ons as well, but that's the one that reads your content.
There's other "Smart" add-ons as well, but that's the one that reads your content.
Reposted by Jo Michell
Reposted by Jo Michell
Yes, obviously raising property taxes will reduce support in London at the margins. But a) it’s obviously the right thing to do and b) it’s extremely unlikely to carry a heavy political cost given the threshold.
November 20, 2025 at 10:09 AM
Yes, obviously raising property taxes will reduce support in London at the margins. But a) it’s obviously the right thing to do and b) it’s extremely unlikely to carry a heavy political cost given the threshold.
Reposted by Jo Michell
“Former Harvard President Lawrence H. Summers will immediately leave his role as an instructor at Harvard while the University investigates his ties to child sex trafficker Jeffrey E. Epstein,” The Harvard Crimson reports.
Summers Will Not Finish Semester of Teaching as Harvard Investigates Epstein Ties | News | The Harvard Crimson
Former Harvard President Lawrence H. Summers will immediately leave his role as an instructor at Harvard while the University investigates his ties to child sex trafficker Jeffrey E. Epstein.
www.thecrimson.com
November 20, 2025 at 12:34 AM
“Former Harvard President Lawrence H. Summers will immediately leave his role as an instructor at Harvard while the University investigates his ties to child sex trafficker Jeffrey E. Epstein,” The Harvard Crimson reports.
Reposted by Jo Michell
It would make sense the next clusterfuck ended up in US insurance, tbh. They mostly dodged the post GFC reforms, have a super weird regulatory/supervisory structure, and the risk that was moved out of banking had to go somewhere
US life insurers are increasing their chances of suffering a run by borrowing more from short term markets and risking the kind of panic that would encourage policyholders to demand cash too. Great numbers in this @opinion.bloomberg.com editorial >> www.bloomberg.com/opinion/arti...
November 20, 2025 at 9:23 AM
It would make sense the next clusterfuck ended up in US insurance, tbh. They mostly dodged the post GFC reforms, have a super weird regulatory/supervisory structure, and the risk that was moved out of banking had to go somewhere
Reposted by Jo Michell
If I think it’s a bubble, you think it’s a bubble, everyone thinks it’s a bubble and the Fed is warning of the possibility of disorderly fall in equity prices … does that still make it a bubble?
“.. with several of these participants highlighting the possibility of a disorderly fall in equity prices ..” 👀
#FedMinutes
#FedMinutes
November 19, 2025 at 7:39 PM
If I think it’s a bubble, you think it’s a bubble, everyone thinks it’s a bubble and the Fed is warning of the possibility of disorderly fall in equity prices … does that still make it a bubble?
Reposted by Jo Michell
Either you support a tax on wealthier people or you don’t.
on.ft.com/44azcE6 Rachel Reeves under pressure to scale back Budget raid on expensive homes
on.ft.com/44azcE6 Rachel Reeves under pressure to scale back Budget raid on expensive homes
November 20, 2025 at 9:19 AM
Either you support a tax on wealthier people or you don’t.
on.ft.com/44azcE6 Rachel Reeves under pressure to scale back Budget raid on expensive homes
on.ft.com/44azcE6 Rachel Reeves under pressure to scale back Budget raid on expensive homes
Reposted by Jo Michell
It’s like trying to understand a ‘cat’ say from lots of text related to cats but without having ever encountered an actual cat and gone through the process of converting perceived cat to language.
November 20, 2025 at 8:11 AM
It’s like trying to understand a ‘cat’ say from lots of text related to cats but without having ever encountered an actual cat and gone through the process of converting perceived cat to language.
It’s regularly claimed that universities lose money on teaching domestic students. The behavioural evidence suggests otherwise.
November 20, 2025 at 7:51 AM
It’s regularly claimed that universities lose money on teaching domestic students. The behavioural evidence suggests otherwise.
A bit perplexed by this review of Congdon by Martin Wolf. I think that consensus is that 21-22 inflation was caused by some combination of post-pandemic supply bottlenecks, the war in Ukraine and potentially US fiscal stimulus and shifts in demand structure. There's no 'i told you so' in that lot.
November 19, 2025 at 5:28 PM
A bit perplexed by this review of Congdon by Martin Wolf. I think that consensus is that 21-22 inflation was caused by some combination of post-pandemic supply bottlenecks, the war in Ukraine and potentially US fiscal stimulus and shifts in demand structure. There's no 'i told you so' in that lot.
Topical panel at the Bristol Festival of Economics today.
November 19, 2025 at 12:04 PM
Topical panel at the Bristol Festival of Economics today.
I'm open to persuasion on this, but I'm yet to be convinced that the 'ultra-processed foods' taxonomy is the right way to deal with deteriorating diet quality. www.thelancet.com/journals/lan...
Ultra-processed foods: time to put health before profit
The rise of ultra-processed foods (UPFs) in human diets is damaging public health,
fuelling chronic diseases worldwide, and deepening health inequalities. Addressing
this challenge requires a unified ...
www.thelancet.com
November 19, 2025 at 11:00 AM
I'm open to persuasion on this, but I'm yet to be convinced that the 'ultra-processed foods' taxonomy is the right way to deal with deteriorating diet quality. www.thelancet.com/journals/lan...
Reposted by Jo Michell
Oh, fun. we’re at this stage already
Blue Owl fund redemption freeze sparks fresh private credit jitters reut.rs/43AVOgX
Blue Owl fund redemption freeze sparks fresh private credit jitters
A fresh bout of anxiety has gripped the $3 trillion private credit market after alternative asset manager Blue Owl moved to limit withdrawals from one of its funds ahead of a planned merger.
reut.rs
November 18, 2025 at 6:21 PM
Oh, fun. we’re at this stage already
Is it coincidence that commentators on the right regarded fiscal rules as incontrovertible when used to justify spending cuts but now that tax increases are on the table there's a growing awareness of the problems of tail wagging the dog?
November 18, 2025 at 5:56 PM
Is it coincidence that commentators on the right regarded fiscal rules as incontrovertible when used to justify spending cuts but now that tax increases are on the table there's a growing awareness of the problems of tail wagging the dog?
Reposted by Jo Michell
Some of the people in this article have shared their recollections with me before - but on condition of anonymity. Coming forward now is an act of patriotism. Farage’s claim that it never happened is the opposite.
(Note also the line about pronouncing his name.)
www.theguardian.com/politics/ng-...
(Note also the line about pronouncing his name.)
www.theguardian.com/politics/ng-...
‘Deeply shocking’: Nigel Farage faces fresh claims of racism and antisemitism at school
Bafta-winning director among contemporaries urging contrition and apology from Reform UK leader, who denies the allegations
www.theguardian.com
November 18, 2025 at 5:01 PM
Some of the people in this article have shared their recollections with me before - but on condition of anonymity. Coming forward now is an act of patriotism. Farage’s claim that it never happened is the opposite.
(Note also the line about pronouncing his name.)
www.theguardian.com/politics/ng-...
(Note also the line about pronouncing his name.)
www.theguardian.com/politics/ng-...
In six months time they'll spot the bug that means that the data is mangled in the most subtle and dangerous way possible.
Dawg this is the example? I could script this in my sleep lmfao.
November 18, 2025 at 5:46 PM
In six months time they'll spot the bug that means that the data is mangled in the most subtle and dangerous way possible.
Reposted by Jo Michell
Quite apart from moral failings, there are clearly a lot of political advisors who do not understand power.
I simply do not understand how the govt can simultaneously believe (1) they don’t have enough political capital to breach the manifesto on tax and (2) they have enough to political capital to pick an unwinnable fight with their own MPs on immigration.
November 17, 2025 at 11:16 AM
Quite apart from moral failings, there are clearly a lot of political advisors who do not understand power.
Reposted by Jo Michell
Labour’s “we have to do it, or racism will get worse” argument is striking. Any other public policy failures British ethnic minorities should be on the hook for? Can we be blamed en bloc for Rachel Reeves’ budget next week too? www.ft.com/content/37b0...
Defence of Labour asylum policy reveals backsliding on racism
Home secretary’s framing of failures is partly low politics, but also a result of ministers’ poor approach to race relations
www.ft.com
November 18, 2025 at 10:08 AM
Labour’s “we have to do it, or racism will get worse” argument is striking. Any other public policy failures British ethnic minorities should be on the hook for? Can we be blamed en bloc for Rachel Reeves’ budget next week too? www.ft.com/content/37b0...
Reposted by Jo Michell
Policies like seizing asylum seekers’ jewellery, making refugees wait 20 years for permanent settlement, and deporting families after they’ve resettled here because their country is “deemed safe” are wrong on every level.
November 17, 2025 at 2:00 PM
Policies like seizing asylum seekers’ jewellery, making refugees wait 20 years for permanent settlement, and deporting families after they’ve resettled here because their country is “deemed safe” are wrong on every level.
There are still some Labour MPs with morals and courage. The Home Secretary’s answer — that we have a moral duty to deport children — is utterly repulsive.
The government should be ashamed that its migration policies are being cheered on by Tommy Robinson and Reform.
Instead of standing up to anti-migrant hate, this is laying the foundations for the far-right.
I questioned the Home Secretary on how she can be proposing such obviously cruel policies.
Instead of standing up to anti-migrant hate, this is laying the foundations for the far-right.
I questioned the Home Secretary on how she can be proposing such obviously cruel policies.
November 17, 2025 at 5:49 PM
There are still some Labour MPs with morals and courage. The Home Secretary’s answer — that we have a moral duty to deport children — is utterly repulsive.