Jo Michell
@jomichell.bsky.social
Professor of economics at UWE Bristol. Chair of Post-Keynesian Economics Society. Interested in macro, finance, banking, climate change, inequality, demographics.
https://people.uwe.ac.uk/Person/JoMichell
https://people.uwe.ac.uk/Person/JoMichell
Pinned
Jo Michell
@jomichell.bsky.social
· Dec 15
Estimating the effects of austerity on the labour market: Evidence from Great Britain
Between 2010 and 2019, in response to concern about the public finances, the UK government imposed substantial cuts to public spending. This austerity programme
papers.ssrn.com
New research!
Austerity and the labour market in the UK.
papers.ssrn.com/sol3/papers....
Headline result: austerity reduced wages, increased employment rates, and contributed to weak productivity.
1/n
Austerity and the labour market in the UK.
papers.ssrn.com/sol3/papers....
Headline result: austerity reduced wages, increased employment rates, and contributed to weak productivity.
1/n
Adverts arrive on ChatGTP openai.com/index/testin...
Testing ads in ChatGPT
OpenAI begins testing ads in ChatGPT to support free access, with clear labeling, answer independence, strong privacy protections, and user control.
openai.com
February 9, 2026 at 7:14 PM
Adverts arrive on ChatGTP openai.com/index/testin...
Reposted by Jo Michell
🚨Japan LLC has been trading its way out of a fiscal hole www.ft.com/content/f7d3...
Japan LLC has been trading its way out of a fiscal hole
Long stocks, short yen, chillax
www.ft.com
February 9, 2026 at 6:45 AM
🚨Japan LLC has been trading its way out of a fiscal hole www.ft.com/content/f7d3...
Reposted by Jo Michell
There are a lot of Labour crises going on right now, but this is an important thread on the honesty of a key Starmer minister’s response to allegations of paying a PR firm to investigate journalists.
When he ran Labour Together, Cabinet Office minister Josh Simons hired a PR firm to investigate journalists
After our revelations, and a flurry of news stories, Simons finally gave his side of the story
But it doesn't seem to tally with the facts... 🧵
democracyforsale.substack.com/p/mcsweeney-...
After our revelations, and a flurry of news stories, Simons finally gave his side of the story
But it doesn't seem to tally with the facts... 🧵
democracyforsale.substack.com/p/mcsweeney-...
McSweeney goes - but Josh Simons in the frame over targeting journalists
Cabinet Office minister hired a PR firm to investigate journalists. His explanation is bewildering - and begs one big question. How can Starmer keep him on?
democracyforsale.substack.com
February 9, 2026 at 11:40 AM
There are a lot of Labour crises going on right now, but this is an important thread on the honesty of a key Starmer minister’s response to allegations of paying a PR firm to investigate journalists.
Reposted by Jo Michell
"Journalism largely consists in saying 'Tim Allan has resigned' to people who never knew Tim Allan was employed"
- GK Chesterton
- GK Chesterton
February 9, 2026 at 11:39 AM
"Journalism largely consists in saying 'Tim Allan has resigned' to people who never knew Tim Allan was employed"
- GK Chesterton
- GK Chesterton
Love this.
I made a map of 3.4 million Bluesky users - see if you can find yourself!
bluesky-map.theo.io
I've seen some similar projects, but IMO this seems to better capture some of the fine-grained detail
bluesky-map.theo.io
I've seen some similar projects, but IMO this seems to better capture some of the fine-grained detail
Bluesky Map
Interactive map of 3.4 million Bluesky users, visualised by their follower pattern.
bluesky-map.theo.io
February 9, 2026 at 11:36 AM
Love this.
Great chart from IEA of changes in electricity production by region in 2025.
February 9, 2026 at 11:29 AM
Great chart from IEA of changes in electricity production by region in 2025.
Reposted by Jo Michell
🎙️ IFS Senior Research Economist Kate Ogden
spoke to @lewisgoodall.com for a special @newsagents.bsky.social episode on how the terms of Plan 2 student loans have changed over time and how this has affected repayments.
📺 Listen here: youtu.be/DwRqHN3nWuA?...
spoke to @lewisgoodall.com for a special @newsagents.bsky.social episode on how the terms of Plan 2 student loans have changed over time and how this has affected repayments.
📺 Listen here: youtu.be/DwRqHN3nWuA?...
Have the Government designed student loans to uphold a generational and class divide?
YouTube video by The News Agents
youtu.be
February 9, 2026 at 10:56 AM
🎙️ IFS Senior Research Economist Kate Ogden
spoke to @lewisgoodall.com for a special @newsagents.bsky.social episode on how the terms of Plan 2 student loans have changed over time and how this has affected repayments.
📺 Listen here: youtu.be/DwRqHN3nWuA?...
spoke to @lewisgoodall.com for a special @newsagents.bsky.social episode on how the terms of Plan 2 student loans have changed over time and how this has affected repayments.
📺 Listen here: youtu.be/DwRqHN3nWuA?...
Corollary is that it is a mistake to demand that any new administration immediately identify where it will make cuts in order to pacify the markets. The calls will come -- they should be resisted.
But given none of the likely successors would make major changes to borrowing, I don’t think it would take long for “no major change in deficit, possibly more open to EU links, less hostile to immigration, although more tax” to win out.
2/2
2/2
February 9, 2026 at 10:04 AM
Corollary is that it is a mistake to demand that any new administration immediately identify where it will make cuts in order to pacify the markets. The calls will come -- they should be resisted.
Reposted by Jo Michell
A software engineer explains AI fatigue, compounded by a FOMO treadmill of using labs' latest tools, thinking atrophy, and more, alongside boosted productivity (Siddhant Khare)
Main Link | Techmeme Permalink
Main Link | Techmeme Permalink
February 8, 2026 at 6:15 PM
A software engineer explains AI fatigue, compounded by a FOMO treadmill of using labs' latest tools, thinking atrophy, and more, alongside boosted productivity (Siddhant Khare)
Main Link | Techmeme Permalink
Main Link | Techmeme Permalink
Reposted by Jo Michell
Since Labour has been in government the lack of preparation and depth of thinking has been apparent but I think one of the biggest mistakes was going to war with the PLP so early. It stunned a lot of MPs to be told they could not even table amendments. This resentment is a massive part of the story.
February 8, 2026 at 8:33 PM
Since Labour has been in government the lack of preparation and depth of thinking has been apparent but I think one of the biggest mistakes was going to war with the PLP so early. It stunned a lot of MPs to be told they could not even table amendments. This resentment is a massive part of the story.
This talk of machine learning for classification reminds me. You know that Frey and Osborne paper? The early “Will the robots take the jobs” with the cool graph everybody cites? Have you ever wondered how they generated the results?
February 8, 2026 at 8:12 PM
This talk of machine learning for classification reminds me. You know that Frey and Osborne paper? The early “Will the robots take the jobs” with the cool graph everybody cites? Have you ever wondered how they generated the results?
Reposted by Jo Michell
mashallah he is gone, to celebrate I've made the piece I wrote last year about arguably the most embarrassing project I've ever worked on free to read: youngvulgarian.substack.com/p/so-about-t...
February 8, 2026 at 3:59 PM
mashallah he is gone, to celebrate I've made the piece I wrote last year about arguably the most embarrassing project I've ever worked on free to read: youngvulgarian.substack.com/p/so-about-t...
Reposted by Jo Michell
A funny thing that the use of AI-generated em dashes has clued a lot of people into the value of the em dash and caused its human frequency to go up too
February 8, 2026 at 7:44 PM
A funny thing that the use of AI-generated em dashes has clued a lot of people into the value of the em dash and caused its human frequency to go up too
Reposted by Jo Michell
"Full speed ahead to uber-woke, net-zeroist rejoinerism" is the funniest thing a Labour MP has said for some time I'll give it that. It's like a Jordan Peterson quote about Elmo.
Yes, god help we risk a floundering government that feels like no one is in charge.
February 8, 2026 at 5:42 PM
"Full speed ahead to uber-woke, net-zeroist rejoinerism" is the funniest thing a Labour MP has said for some time I'll give it that. It's like a Jordan Peterson quote about Elmo.
Reposted by Jo Michell
Stay classy, lads...
NEW: McSweeney allies suggest he carried can for Starmer over Mandelson decision. They say it was wrong to suggest he pushed for appointment, and was careful to ensure others shared views, which were unanimous. “He gave his advice, but that’s all it was. Keir made the decision.”
February 8, 2026 at 4:51 PM
Stay classy, lads...
The more I think about this problem, the more it seems like one of those fundamental Marxist contradictions — and it’s going to generalise. Coding is just the canary in the coalmine.
The real problem is that the only people qualified to drive an agentic coding model are people who are intimately familiar with the codebase and *familiarity with the codebase drops when you vibe code*
See, for example, the recent study commissioned by Anthropic: arxiv.org/abs/2601.20245
See, for example, the recent study commissioned by Anthropic: arxiv.org/abs/2601.20245
How AI Impacts Skill Formation
AI assistance produces significant productivity gains across professional domains, particularly for novice workers. Yet how this assistance affects the development of skills required to effectively su...
arxiv.org
February 8, 2026 at 11:34 AM
The more I think about this problem, the more it seems like one of those fundamental Marxist contradictions — and it’s going to generalise. Coding is just the canary in the coalmine.
Even the bond vigilantes don’t like the fiscal rules.
February 8, 2026 at 10:34 AM
Even the bond vigilantes don’t like the fiscal rules.
Reposted by Jo Michell
👉🏼“NSA detected phone call between foreign intelligence and a person close to Trump
Whistleblower says that Tulsi Gabbard blocked agency from sharing report and delivered it to White House chief of staff”
www.theguardian.com/us-news/2026...
Whistleblower says that Tulsi Gabbard blocked agency from sharing report and delivered it to White House chief of staff”
www.theguardian.com/us-news/2026...
NSA detected phone call between foreign intelligence and a person close to Trump
Whistleblower says that Tulsi Gabbard blocked agency from sharing report and delivered it to White House chief of staff
www.theguardian.com
February 7, 2026 at 4:47 PM
👉🏼“NSA detected phone call between foreign intelligence and a person close to Trump
Whistleblower says that Tulsi Gabbard blocked agency from sharing report and delivered it to White House chief of staff”
www.theguardian.com/us-news/2026...
Whistleblower says that Tulsi Gabbard blocked agency from sharing report and delivered it to White House chief of staff”
www.theguardian.com/us-news/2026...
Reposted by Jo Michell
New on FT website:
Downing Street has refused to say whether Sir Keir Starmer knew Palantir was a client of Peter Mandelson’s lobbying firm when they both visited the company in Washington last February — ahead of it winning a £240mn UK government contract.
www.ft.com/content/5bba...
Downing Street has refused to say whether Sir Keir Starmer knew Palantir was a client of Peter Mandelson’s lobbying firm when they both visited the company in Washington last February — ahead of it winning a £240mn UK government contract.
www.ft.com/content/5bba...
Starmer faces questions over visit to Palantir office alongside Mandelson
Former ambassador was also shareholder in lobbying group that counted US tech firm as a client
www.ft.com
February 7, 2026 at 8:20 AM
New on FT website:
Downing Street has refused to say whether Sir Keir Starmer knew Palantir was a client of Peter Mandelson’s lobbying firm when they both visited the company in Washington last February — ahead of it winning a £240mn UK government contract.
www.ft.com/content/5bba...
Downing Street has refused to say whether Sir Keir Starmer knew Palantir was a client of Peter Mandelson’s lobbying firm when they both visited the company in Washington last February — ahead of it winning a £240mn UK government contract.
www.ft.com/content/5bba...
Really pulling out all the stops. I’m not sure people are in the mood for it.
This is a classic
February 7, 2026 at 10:16 AM
Really pulling out all the stops. I’m not sure people are in the mood for it.
Reposted by Jo Michell
A lot of books have been written about the Syrian war, but Robin’s earlier book, Burning Country, is still one of the best books I’ve read on the topic. The subject of this next one is, in a way, surreal. Excited to read it.
February 6, 2026 at 9:30 PM
A lot of books have been written about the Syrian war, but Robin’s earlier book, Burning Country, is still one of the best books I’ve read on the topic. The subject of this next one is, in a way, surreal. Excited to read it.
Reposted by Jo Michell
The Today programme gave us a closing lecture just now on the risks of even the teeniest turn to the left in post Starmer world. Mandelson rightwing politics good, Mandelson ethics a bit dodgy, we are instructed. Bond apocalypse armageddon will strike, we learn...
February 7, 2026 at 9:36 AM
The Today programme gave us a closing lecture just now on the risks of even the teeniest turn to the left in post Starmer world. Mandelson rightwing politics good, Mandelson ethics a bit dodgy, we are instructed. Bond apocalypse armageddon will strike, we learn...
Hold on, as part of the Mandelson debacle, we just found out the hollowness of the “bond vigilante” narrative — Mandelson and Dimon against Darling, remember? Don’t try and pull this one on us now.
It seems unlikely that a new leadership would loosen fiscal policy. There might be changes that are both bad for near-term growth (more tax rises and labour rights) and good (watered down immigration policies).
www.ft.com/content/c855...
www.ft.com/content/c855...
Starmer camp warns leadership challenge risks economic chaos
Investors also signal concern at prospect of a more leftwing government
www.ft.com
February 7, 2026 at 9:37 AM
Hold on, as part of the Mandelson debacle, we just found out the hollowness of the “bond vigilante” narrative — Mandelson and Dimon against Darling, remember? Don’t try and pull this one on us now.
Reposted by Jo Michell
Exclusive: Cabinet Office minister Josh Simons was provided with intelligence files gathered on journalists (including me) who had reported on Labour Together, the thinktank he chaired at the time (before he became an MP), sources say.
Know more about this story? Contact me, Signal: henrydyer.01
Know more about this story? Contact me, Signal: henrydyer.01
Labour minister was provided with intelligence files on journalists
Exclusive: Material gathered was personally given to Josh Simons when chair of pro-Starmer thinktank, say sources
www.theguardian.com
February 6, 2026 at 5:46 PM
Exclusive: Cabinet Office minister Josh Simons was provided with intelligence files gathered on journalists (including me) who had reported on Labour Together, the thinktank he chaired at the time (before he became an MP), sources say.
Know more about this story? Contact me, Signal: henrydyer.01
Know more about this story? Contact me, Signal: henrydyer.01