Inequality

Four (more) reasons to loathe Oxford

Nick Cohen observed in a recent Spectator: ‘The graduates of Oxford’s Politics, Philosophy and Economics course form the largest single component of the most despised generation of politicians since the Great Reform Act.’ Who could argue? However, Oxford does not only lead the UK in punting, prime minister production and sales of academic gowns. Here are four more nightmarish records held by the city of dreaming spires: 1. Oxford is the most expensive locale in the UK outside of London. The average price-tag on a house in Oxford is £340,864 – eleven times average local annual earnings; also, roughly two-and-a-half times the typical house price in the UK’s cheapest city, Stirling, per

David Cameron’s not the only one in trouble over morris dancing

Dirty dancing David Cameron was accused of causing racial offence by posing with blacked-up Morris dancers, though it was pointed out that the tradition dates from 16th-century jobless labourers covering their faces with soot. Other Morris dancer controversies: — In 2011 the Slubbing Billys were thrown out of a pub in Durham for breaking a rule against music. They weren’t dancing, just drinking, but had bells on their trousers. — In 2013 officials from Lancashire County Council accused the Britannia Coconut Dancers of breaching health and safety rules when their dance strayed onto the road. Forget me, forget me not? Where have people been most successful at persuading Google to

Fight Thomas Piketty or face a mansion tax

The postman at the door is stooped by his burden like an allegorical statue of Labour Oppressed by Capital. His wearisome, low-waged task is to deliver a copy of Thomas Piketty’s Capital in the Twenty-First Century — or perhaps multiple copies all round the town, since this breezeblock of a thesis on the iniquities of accumulated wealth stands second in this week’s bestseller lists, pipped only by the life story of someone called Guy Martin. His core argument — the celebrity French economist Piketty, that is, not Martin, who turns out to be a celebrity motorbike racer and lorry mechanic — is that the return on unfettered capital will always

How the Ancient Greeks did wealth taxes

After 685 tightly argued pages, the ‘superstar’ economist Thomas Piketty unfolds his master-plan for closing the gap between the rich and poor: you take money away from the rich. Novel. Ancient Greeks realised you had to try a little harder. The culture of benefaction was deeply rooted in Greek society, even more so when the Romans made Greece a province in the 2nd century BC and removed their direct power of taxation. The quid pro quo lay in the prospect of eternal honour for the donors. The services which the wealthy provided for the city included paying for baths, gymnasia and food supply. Where harbour facilities and commercial districts needed

Being rich makes you mean: here’s proof

It’s all the rage these days to worry about the growing gap between rich and poor. Our fretting was fuelled by Capital in the 21st Century, by the French economist Thomas Piketty, which claims to show that over time this gap will grow inexorably. But we’ve been agonising about equality for aeons, and for aeons arriving at the same stand-off between rich and (relatively) poor. Here’s how the argument goes: those who don’t feel rich begin by saying that it’s disgusting how much of the world’s total wealth is owned by a small minority. Globally, the richest 10 per cent hold close to 90 per cent of the world’s assets.

Did the pope say ‘inequality is the root of all social evil’?

The following blog from a Catholic commentator about the Pope’s controversial tweet suggesting that “inequality is the root of social evil” puts the row about it on Twitter into context. But the real question is the language in which Pope Francis first tweeted: Spanish or Latin? In Latin, as the author of this blog observes, the critical noun is “iniquitas”, which you might as well call “sin”; come to that “malus” doesn’t mean social evil so much as any sort of evil. And to say that sin is the root of evil is sort of tautologous, at least for Catholics. But if the pope’s thought was first expressed in Spanish,

Meritocracy doesn’t work. It’s in the Left’s interest to recognise this

At the end of Coming Apart Charles Murray mentions, rather enigmatically, that our assumptions about society will soon be blown out of the water by new discoveries about human nature. I imagine he’s talking about genetic discoveries, in particular about the human brain. One of our current assumptions is meritocracy, and the idea that we can produce a fair society in which the most talented and energetic rise to the top. This is sometimes what people mean when they talk of the ‘American Dream’, a term that seems to be used more now that social mobility in that great country is fading and inequality rising. That is why The Son

Britain is now a socialist utopia

Scarcely a day passes, it seems, without another book landing with a thud on my desk that bemoans the rise of inequality. On this side of the Atlantic we have The Spirit Level by Richard Wilkinson and Kate Pickett and Injustice by Daniel Dorling, while in America we have Charles Murray’s Coming Apart and Joseph Stiglitz’s The Price of Inequality. I’m coming round to the view that these intellectual heavyweights have got it back to front and the really significant social trend of our era is the triumph of equality. So it was refreshing to dip into A Classless Society, the third volume of Alwyn Turner’s history of Britain since

Why Sweden has riots

  Stockholm  ‘All of them should have been very happy,’ Robert A. Heinlein begins his 1942 novel Beyond This Horizon. The material problem has been solved on this future earth, poverty and disease have been eradicated, work is optional. And yet parts of the citizenry are not enthusiastic. Some are bored, others are preparing a revolt. Why should that be, in such a utopian world? A similar puzzlement has been the dominant reaction from commentators after riots broke out and cars and buildings were burned in heavily immigrant-populated suburbs of Stockholm in late May. Sweden? Since the standard interpretation is that violence is the only weapon the marginalised have against

Margaret Thatcher: faultless on the Falklands but a disaster at home

I’m afraid we have to use Nelson Mandela as an example once again. He is proving very useful in his dotage, old Nels, as a comparison for stuff. A sort of benchmark. So, when the BBC’s Eddie Mair kebabed Boris Johnson and called him a ‘pretty nasty piece of work’, it seemed to me relevant to ask if he would level the same sort of charge at Nelson, were Eddie ever to be afforded an interview with the sainted man. Nelson’s organisation, remember, blew things up with bombs, and people died: he was a terrorist — whereas in effect all Boris did was schtupp some ditsy babe and tell Michael Howard

Margaret Thatcher in six graphs

With the debate swirling about Margaret Thatcher’s legacy and her government’s record, it’s worth taking a look at what the cold, hard economic data has to say about her time in office. Of course, growth rates and unemployment figures can’t tell us everything about a period, but they can at least provide a bit of substance to mix with the well-worn rhetoric. 1. Average growth. Under Thatcher, GDP rose by 29.4 per cent — an average of 0.6 per cent growth per quarter. (That’s the same as the average growth rate from 1955 to 2013.)   2. Manufacturing jobs lost, but more service jobs created. A net of 1.6 million

The green consensus in action

A couple of days ago, I wrote about the deleterious effects of political consensus on energy policy. A good example of this has emerged today. According to Politics Home, Luciana Berger and Caroline Lucas are seeking an amendment to the Green Deal to impose a target for domestic carbon reduction. A number of salient points emerge from this. First, it’s a fine instance of the obsession with targets; itself an indication that this area of policy is largely a top down initiative – driven by targets, taxes and penalties. The Green Deal, as it currently stands, is one of the few areas that put incentive before directive. The idea was

Why we shouldn’t confuse poverty with inequality

The power of ideas is vastly underrated in British politics. It has become fashionable to dismiss them as “ideology” and declare oneself in favour of “what works”.  But the idea of what works is, of course, driven by concepts. As Keynes put it: “Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slave of some defunct economist.”   I write this because ConHome has just run a piece by Max Wind-Cowie saying, “Equality should not be a dirty word for the Conservatives”. I do admire the way Demos, seeing Labour on the way out, is trying to inject as much of its agenda

The Tories provide the only route away from educational inequality

The level of educational inequality in this country is appalling. I have heard the numbers that Michael Gove listed off in his speech several times before but they never fail to shock. One wonders what future there can be for the half of the children who left comprehensives last year without five good GCSEs. The worst schools in the country are in the poorest areas. The Tory plan, to put parents in charge of the £5,000 per year that the state spends on a child’s education, with pupils from deprived backgrounds receiving additional funding, would end the monopoly on state education provision that has failed the poorest. In its place