Polly Toynbee nearly gets it
In the style of Tim Worstall, I thought I’d take a pop at some of Polly Toynbee’s economic logic.
In this article,
Polly Toynbee wrote…
“Who will do the cleaning, caring and catering in expensive places once low earners are cleared away?”
Oh, Polly. You’re so close to understanding it. Can you see how the rental subsidy actually subsidises the business owners who pay those workers? Nope. I thought not. I’ll give you a hint - people will still require cleaners, food will still be cooked and people will still require carers and therefore… you can do the rest I know you can. Work that brain, lady!! You can do it!
Polly, if you’re still struggling, go buy an economics textbook or even simpler go to youtube and brush up on the following:
- Opportunity costs.
- Unintended consequences.
- Broken window fallacy.
- Price theory.
As a prominent journalist in a major UK newspaper, I think Polly Toynbee has a “social responsibility” to learn some basic economics.
