asterisk2a + good + osborne + neoliberalism + financial   2

SPERI Annual Lecture 2015: 'The Failure of Austerity' by Lord Robert Skidelsky - YouTube
economic history - "state spending inherently unproductive." // borrowing is deferred taxation - David Richardo - Rational expectations. Market economy always tended full employment. // Theory and Facts did not align. Keynes realised it post-war. Private investment is inherently volatile, ie slump conditions. state to offset underinvestment of private sector and match their retreat. getting rid of abnormal unemployment. done through monetary expansion (QE) and put onto state balance sheet available to spend. // Where 2009 forward QE got to banks ... // Paul Krugman - Confidence Fairy. // "Look after employment, and the budget will look after itself." but today it's the bond holders confidence who shapes budgets. // Keynes 'it is the long-term confidence of businesses that shape investment, confidence in state to no let a slump happen again.' but austerity, out of ammo talk, political-, social environment/sentiment & Osborne's '2016 will be tough year' speech were counter-productive.
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january 2016 by asterisk2a
Bumper payouts for housebuilding executives as market booms | Business | The Guardian
Two of Britain’s largest housebuilders, Berkeley Group and Persimmon, could hand out about £1bn to their top executives and managers in pay and bonuses over the next six years, boosted by strong UK house prices and government-subsidies for home-buyers. Tony Pidgley, founder and executive chairman at Berkeley, is expected to face tough questions on Tuesday at the group’s shareholder meeting near its headquarters in leafy Cobham, Surrey, after it emerged last month that his pay package last year was worth £23.3m. [...] Meanwhile, executives at Persimmon, the UK’s largest housebuilder, also have a Berkeley-style incentive scheme that is one of the most generous to be found at a London stock market-listed firm. [...] Berkeley’s share price has risen more than 40% since the election of a Conservative government in May, [...] [bonuses] “entirely based on short-term performance”. [...] return on equity[.][ < KPI, what gets measured gets done ] &! bbc.in/1KE0jut - Barratt Homes profits +45%
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september 2015 by asterisk2a

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