9 comments on “It could be that Liam Byrne just doesn’t get it

  1. Shirly, “rewriting” the rules of economics is like “rewriting” the rules of gravity. Economics is a study what happens in a particular subject, the “rules” describe those observations. “If I purchase something, I lose tradeable value and gain traded good”. How can you “rewrite” that “rule”?

  2. I’m in favour of rewriting the rule that some shitty politicians take my hard-earned and piss it up the wall and that counts as an economic plus.

  3. Who’ll have a wager that the rewritten rules involve a much higher transfer of our hard-earned into the hands of halfwitted monkeys like Byrne?

  4. “Incentives matter” has to be one of the great laws of economics. And the refinement “Incentives matter most at the margins” is the next greatest great one. Imv, of course.
    There really are people that think the two child rule on new tax credit claims from April will not reduce immigration. These utterly delusional and condescending people think families who want to come are desperate will still have the same desire to come, not realising that even desperate people can make choices.

  5. Bongo – will it make a difference to those not claiming tax credits or those who are unaware of the tax credits change?

  6. Good point Martin: incentives matter if you are aware of the changes. So people on say 40k+ with 3 children who have never claimed tax credits but whose job is shaky may not have savings ( unsecured loans even ) and live as if the welfare state would still provide a complete support package.
    Those currently on tax credits and unaware may make a 3rd or additional baby, and then find the £55/week extra they expected doesn’t materialise.
    When bad cases hit the press, awareness will grow massively.

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