Vague ramblings

A Jesuit fable: get ready for Generation Debt

Posted in Business, Musing by Ian Cundell on 2 October, 2013

Isn’t that just typical? You wait ages for someone outside the halls of academia to reference the Phillips Curve and then two come along at once.

Almost as my last blog auto-posted, the new issue of Property Week landed on my doormat and there was Peter Pereira Gray, managing director of the investment division at Wellcome Trust – I think we can agree, a pretty damned respectable organisation – nodding to Phillips. It is an interesting article and well worth tracking down, if you don’t take Property Week (27-1-13, p27). It raises reasonable questions about the effectiveness of Governor of the Bank of England Mark Carney’s reliance on unemployment as a policy indicator, suggesting that commercial property (and, as it happens my thesis in this short series of blogs) had better hope he is right.

I say “as it happens” because my interest in Carney’s stance is from a different angle.

(more…)

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