Thursday, April 13, 2006

Getting To Grips With Kaletsky

In an article entitled 'How the London property boom will dissolve Britain's North-South divide', Anatole Kaletsky provides a reasonable analysis of the UK's current economic position, but reaches an absurd conclusion.
Quoting both employment(.pdf) and wage data from the Office of National Statistics, Kaletsky concludes that, with the exception of London, the UK is moribund; and that the economy will rise only when London householders sell their properties to bankers and then relocate.
Firstly, what if they don't want to? What if they want to stay right where they are?
Secondly, what of the consequences of displacement in the areas to which they wish to relocate?
It's a poor, poor argument, framed entirely in terms of what people can do without regard to whether they should, or indeed ever will; and assumes that the people will instead just be happy just to be herded like cattle.
For who says we'll vote for more globalisation next time around? My feeling is that by 2009, enough of us will have been bitten by it to start thinking of other models...

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