It could be that Liam Byrne just doesn’t get itJanuary 20, 2017 Tim WorstallTimmy Elsewhere9 CommentsDon’t ‘rewrite the rules of economics’, Liam Byrne – learn them previousPolice intelligencenextSo, he dictating yet? 9 thoughts on “It could be that Liam Byrne just doesn’t get it” Dennis the Peasant January 20, 2017 at 2:20 pm He could sit in on a few of Spud’s lectures. That should do it. jgh January 20, 2017 at 2:24 pm 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”? Witchie January 20, 2017 at 3:46 pm 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. Gene Berman January 20, 2017 at 4:21 pm jgh,– Stop calling me “shirly!” MC January 20, 2017 at 5:56 pm 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? Bongo January 20, 2017 at 9:34 pm “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. Liberal Yank January 21, 2017 at 1:33 am Thanks for including the fishing link. I hadn’t stumbled on that one before. Martin January 21, 2017 at 4:59 pm Bongo – will it make a difference to those not claiming tax credits or those who are unaware of the tax credits change? Bongo January 22, 2017 at 12:37 pm 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. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.