Quote of the Day

Miliband guru Lord Glasman:

“We have an England football team of a government, and the reserves are no better. Neither our coaches nor our political leaders seem to understand the relationship between competitiveness and co-operation, team building and winning. We have been managed not led. There seems to be no alternative to conformist mediocrity…

Labour has not told a story about how the centralisation of power, in the market and the state, is the primary problem, and giving incentives to virtue rather than vice is the fundamental solution. And so the most original leftwing thought for some years on social welfare reform vanished almost without trace, reduced to a nasty Labour press release on how the party plans to force young people into training.”




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Quote of the Day

The FT’s Wolfgang Munchau on the “fake maths” of economic forecasts:

“The truth is that our ability to forecast the future beyond the current quarter is limited… The curse of our time is fake maths. Think of it as fake news for numerically literate intellectuals: it is the abuse of statistics and economic models to peddle one’s own political prejudice… The fakeness of the maths lies in an exaggerated inference. Economic models have their uses, as do opinion polls. They provide information to policymakers and markets. But nobody can see through the fog of the future.”

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