Time for a new poor law? Elizabethan ideas win economics prize

Family take share of £100,000 award with study of UK’s golden eras of growth including pioneering welfare system

Britain could look back more than 400 years to the reign of Queen Elizabeth I for inspiration on how to reboot the economy and tackle inequality, according to a joint winner of one of the most valuable prizes in economics.

Simon Szreter, a professor of history and public policy at Cambridge University, his wife, Hilary Cooper, an economics consultant, and their son Ben Szreter, the chief executive of a community-based charity in Cambridge, were collectively one of two winners of the inaugural IPPR economics prize, worth a total of £100,000.

Continue reading…

While Westminster bluffs and blusters, a UK recession looms | Aditya Chakrabortty

Politicians and pundits may be distracted, but economists are already talking about another financial crisis

God bless Britain’s political class, for in their capacity for happy self-absorption they are as reliably easy to please as a puppy. Just chuck them the right chew toy.

Who won last night’s head-to-head, Boris or Jeremy? Gnaw gnaw. What is George Osborne playing at? Snuffle, snuffle. Doesn’t young Matt Hancock look tortured these days? Slobber, slobber. And so politicians and pundits paw away, the existential questions facing an entire country somehow never quite as rousing as the latest gossip from Versailles.

In the construction sector, which has just had its worst month since the immediate aftermath of the financial crisis, they now talk of ‘quicksand’

Related: No-deal threat causes sharpest investment drop since 2009 recession

Continue reading…