Oh, golly: Toys really are us

Article Abstract:

There are similarities between the United Kingdom economy and the world in which the children's cartoon character, Noddy, lives. Noddy was created by the author, Enid Blyton, in 1949. He works in the service sector and is self-employed. His earnings are low and he has no pension or holiday rights. He likes to have party when he does get paid. He does not fill in tax forms and sometimes uses barter. The informal sector accounts for some 10% of the United Kingdom economy where work is increasingly precarious, as it is for Noddy.

Employment, Underground economy

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Time the MPC abandoned activism

Article Abstract:

It may be advisable for the Bank of England's Monetary Policy Committee (MPC) to leave interest rates unchanged, shifting away from the activism favoured by some of its members. There is still considerable uncertainty about how interest rates affect consumer spending and investment, and for this reason it may be wise for the MPC to be cautious about making frequent interest rate changes. It should consider following the example of the US Federal Reserve, which has only cut interest rates four times since the beginning of 1996.

Government regulation (cont), Interest Rates, Planning

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UK slips down the productivity league

Article Abstract:

Levels of growth and productivity in the UK have been disappointing for many years. The main reason for this is insufficient investment in both human and physical capital, particularly in the public sector. There has been a significant rise in business investment, but this has not yet led to productivity growth. Until productivity growth takes place, the Bank of England would be taking a risk to set interest rates on the basis that the economy can afford any further rise in earnings growth.

Market information - general, Productivity & Wages, Industrial productivity

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