andrewducker | Interesting Links for 31-10-2018

How Lisp Became God's Own Programming Language: (tags: programming language history design )
German ex-nurse admits killing 100 patients: (tags: murder germany healthcare )
The people embracing their disabilities for Halloween: (tags: halloween disabilities costumes )
RPGnet bans posts in favour of Trump: (tags: politics usa roleplaying )
Venice flooded by high tide – in pictures: (tags: Italy flooding )
Need to relax? Try this live stream of a Norwegian train in wintery countryside: (tags: Norway video beautiful )
US Power generation CO2 emissions are lower than they have been since 1987: (tags: co2 usa electricity GoodNews )
Climate change: Low cost, low energy cooling system shows promise: (tags: viaDanielDWilliam heat materials )
The FBI has been asked to investigate claims that women have been offered money to fabricate sexual-harassment allegations against Special Counsel Robert Mueller.: (tags: fraud conspiracy usa politics republicans )
Android's under-5s apps have unfair and deceptive ads: (tags: advertising children phones games OhForFucksSake )
John McDonnell faces down Labour critics and vows to back tax cuts for the rich: (tags: labour tax inequality )
The image in this tweet is also a valid ZIP archive, containing a multipart RAR archive, containing the complete works of Shakespeare.: (tags: Shakespeare compression security )
Vitamin D levels in the blood linked to cardiorespiratory fitness: (tags: fitness vitaminD )
‘Tory-free’ wish banned from Edinburgh 2050 word cloud: (tags: conservatives funny marketing Edinburgh scotland )

I think McDonnell is eyeing up a significant Kenysian stimulous following a Labour General Election win. If so, this would involve increases in public sector capital expenditure, increases in public sector operating expenditure through expansions of public sector headcount and pay increases, probably increases in transfer payments, such as pensions, welfare and job seekers allowances and *no tax increases for anyone* because it is funded by borrowing. It has to be funded by borrowing in order to be a fiscal expansion.

The totality of that can be plenty enough redistributive or progressive even if part of that is retaining a few individually less than progressive measures such as increases to the top-rate tax thresholds. Public sector workers are usually not well paid. The unemployed are not well paid. Poor people benefit more from well funded public services than the rich as the rich can make their own private provision. Capital expenditure on infrastructure boosts long-term growth rates, creating employment and strengthening the bargaining position of less well paid workers.

But crucially, you don't bring in a tax increase for anyone if you are trying a macro-economic fiscal stimulous.

I'd be interested in his thoughts on endogenous growth theory as the other side of a macro-economic fiscal policy. I expect I can guess as at his views on improving the bargaining power of workers vs capital but I'm not sure where he stands on endogenous growth.

Oh good, thanks. I was wondering about this. I knew you'd know.

Well, I'm guessing, but I hope it's an informed guess.

It is unlikely that he is triangulating in a Blairite fashion.

I can understand wanting a stimulus. But is there any reason you can't do that _along with_ a cash transfer from rich to poor?

Give £Xk out and transfer £Yk from the top decile to the bottom one at the same time?

Yes, every pound you *transfer* through taxation is a pound unavailable for stimulus.

Deficit spending today represents taxation tomorrow. That later taxation can be more or less progressive. But if you are running a fiscal stimulus you don't want to be undermining it with additional taxation anywhere.

Public spending is inherently redistributive.

Interesting Links for 31-10-2018

McDonnell's Economic Plans

Re: McDonnell's Economic Plans

Re: McDonnell's Economic Plans

Re: McDonnell's Economic Plans

Re: McDonnell's Economic Plans

Re: McDonnell's Economic Plans