Knowing Me, Knowing 2022

Ukraine, Liz Truss, My Chemical Romance, and some books I've read

War in Europe, three prime ministers, and the death of The Queen. 2022 has been an eventful year to say the least. Here are my reflections on the events of the past year plus some things I’ve enjoyed reading and listening to.

Ukraine

The most significant event of the year has got to be Russia’s evil and illegal invasion of Ukraine. I’m delighted to say that I got this very wrong. At the beginning of the year my position was that the UK should support Ukraine but I imagined that Ukraine would not be able to resist, the West’s resolve would buckle, and the government in Kyiv would fall with a puppet administration being installed by the Kremlin. Thankfully this has not happened. The people of Ukraine have defended their home with bravery and skill and the UK, US, and most of Europe have been united against Putin and in their support for Ukraine. Boris Johnson was ill suited and undeserving of the role of prime minister, but he does deserve credit for helping to take the lead in supporting Ukraine. The ultimate praise must be given to President Zelenskyy who could have so easily fled the country and abandoned his people to their fate. Instead he has shown great bravery and skill in defying Putin and ensuring that Ukraine gets the support it needs. The video of Zelenskyy and other politicians in Kyiv at the beginning of the war will no doubt go down in history as one of the most pivotal moments of the war.

Back in March I wrote a paper for the Adam Smith Institute. In the paper I argue that the UK should offer visas to every Ukrainian person who wants one and allow them to remain in the country. I am pleased that the government did indeed offer refuge to the people of Ukraine.

More controversially I also argued that the government should offer amnesty to members of the Russian and Belarusian armed forces who had not committed war crimes. Moreover, the government should offer visas to STEM graduates in Russia and Belarus and allow them to live, work, or study in the UK. My thinking behind this is to ‘brain drain’ Russia and cripple its ability to wage war either now or in the future. I stand by this.

I have been inspired by Tymofiy Mylovanov who is the President of the Kyiv School of Economics and former economy minister for the Ukrainian government. He had a comfortable life in the US and could have remained there but he chose to return to Kyiv. I will probably write something in the new year about rebuilding Ukraine after Putin has been defeated but Ukraine will need talented economists to help with the process and so the Kyiv School of Economics will play a vital role in this. I’d recommend supporting them in any way you can.

Ukraine will win and I look forward to the day that Putin stands trial at the Hague or his bloated corpse is fished out of the Volga. I don’t mind which. 

Slava Ukraini!

Liz Truss

It almost doesn’t feel real, but Liz Truss was Prime Minister of the United Kingdom of Great Britain and Northern Ireland. As many of you will know, I was an adviser to Truss when she was the International Trade Secretary but I supported Rishi Sunak during the leadership campaign (I’m not a Tory so I didn’t have a vote). However, when she won I wrote an article for The Critic drawing on my experience of working with her on why I felt she had the potential to be a good prime minister.

In my defence, lots of people have the potential to be a good prime minister. My article focussed on the positive aspects of her character as I felt it right to give her the chance and also feel uneasy about sharing negative things about people which I learnt in a private setting and which may not accurately reflect their character.

I’ve written elsewhere about why I think it went so wrong so quickly for Truss and Kwarteng. They were reckless and didn’t take time to reflect or think things through clearly. Their impact on the economy and the reputation of free market economics will have a scarring effect which will be felt for decades to come.

I’ve written before that Truss and other Tories have a tendency to cosplay Margaret Thatcher and fight the same battles as her. Thatcher got many things wrong, but she correctly diagnosed what was making Britain the Sick Man of Europe and so the reforms she introduced helped to reverse the country’s fortunes and brought abut economic growth. It was only when economic growth came did she look at cutting taxes.

There were lots of good things in the Truss-Kwarteng mini-budget. They had correctly identified that the UK is in dire need of supply side reform by reforming the planning system so that more homes could be built. Unfortunately these were overshadowed by the huge tax cuts and massive, universal support package. If she had followed the example of her idol then she would have introduced the supply side reforms and then started to cut taxes after these had started to bring about economic growth.

Books

Here is what I’ve enjoyed reading this year.

Restarting the Future: how to fix the intangible economy by Jonathan Haskel and Stian Westlake. It is an excellent book and a worthy follow up to their Capitalism Without Capital which is high praise indeed. The economy is in a mess with low productivity, stagnant economic growth, and rising inequality. We’ve already experienced one lost decade in the UK and it looks as though we’re set for another. This book has some great ideas on how to fix it and get the economy back on track.

Slouching Towards Utopia by Brad DeLong. It’s almost a cliche to call a century either long or short but DeLong makes an impressive case for referring to the Twentieth Century as long. His focus is 1870 to 2010 and the immense economic growth which came about during this period. We could have done far better, but thanks to open economies and free trade, people have been lifted out of poverty on a scale which is unprecedented in human history.

Paul: A Biography by N.T. Wright. Whether you’re a person of faith or not, the teachings of the apostle Paul have been incredibly influential and have helped to shape the moral framework in which we all inhabit. He also lived a very unique life. Wright is arguably the most authoritative source on Paul and provides a fascinating insight into the life and times of someone who has a very good claim on being one of the most influential men who ever lived.

The World the Plague Made by James Belich. Given we’ve all lived through a pandemic, reading about another plague, it would be completely understandable if you don’t want to read about another one. However, Belich gives us a fascinating insight into the economic impact of the Black Death.

Silverview by John le Carre. A completely riveting spy yarn complete with spooks, unusual characters, and twists and turns. Books released after an author’s death tend to be hit and miss and this, although certainly not his best work, does not disappoint.

21st Century Monetary Policy by Ben Bernanke. I enjoy Bernanke’s stuff and this clearly written book helps to demystify some of the more unconventional monetary policy tools which have been used by central banks since the Great Recession. I’ll probably write something longer on this in the new year but Bernanke is a worthy recipient of this year’s Nobel Prize in economics. It’s largely thanks to him that we didn’t experience another depression.

The Journey of Humanity by Oded Galor. Going back tens of thousands of years the author explores the roots and causes of economic growth and inequality. It’s a sweeping account of the economic history of the world and well worth a read.

Victory at Sea by Paul Kennedy. I read a number of naval history books this year and this one is a fascinating look at the rise and fall of the Great Powers during the Second World War through the lens of their navies. 

The Ship Asunder by Tom Nancollas. It is a sweeping history of Britain as a maritime nation from the Bronze Age to the present. It is a story of trade, war, superstition, and death. Fascinating and moving.

Convoys by Roger Knight. I’ve just finished reading this and absolutely loved it. The book shows the important role played by international trade in Britain's rise to global dominance and how the Royal Navy was instrumental in protecting trade routes against Napoleon’s forces.

George III by Andrew Roberts. I’m currently reading this and really enjoying it so far.

TerrorTome by Garth Marenghi. The greatest ever TV show is Garth Marenghi’s Dark Place. If you haven’t watched it yet then that should be your priority going into 2023. He’s written a book. I’m reading it. You should too.

Out of the Blue by Harry Cole and James Heale. A book about the unlikely rise and rapid downfall of Liz Truss. I haven’t read it yet because I had a feeling that at least one person would buy it for me as a Christmas gift either because they felt I’d genuinely enjoy it or as a joke. So far five (5) people have bought me a copy…

Music

Given that Covid isn’t really a thing anymore (or at least nobody seems to care), 2022 has seen the return of live music. I’ve been fortunate enough to attend some great gigs and have enjoyed listening to some new releases. This won’t become a regular feature, I’m not the NME.

My Chemical Romance

During Lockdown 1.0 I had a call with my best friend. He told me he was nervous about becoming a father for the first time. I told him I was nervous that the My Chemical Romance gig I had tickets for might get cancelled. He had no need to worry as he’s a great dad, but I was right to worry - the gig was cancelled. It finally got pushed back to 2022 and I decided to see them twice.

The first gig was in Milton Keynes for some unknown reason. The second was in Cardiff but was on at the same time as an Ed Sheeran gig which crippled the cities transport infrastructure, forced hotel prices up, and made the city look like a sixth form common room with two factions of normies and emos.

There are few things in this life better than being at the gig of one of your favourite bands, belting out the classics alongside your friends with a plastic cup of overpriced cider in your hand. They did not disappoint and put on a great show, including their new song. The Foundations of Decay.

Placebo

Another of my favourite bands toured this year. I went to see them four times which I do realise sounds a bit stalkerish but one of those times they were supporting My Chemical Romance plus they’re great! Again, they did not disappoint and they insisted that people not take photos or videos of the performance. This annoyed some fans but I think it’s a good thing - if you’re filming it then you’re not really experiencing it in the moment and you can ruin the experience for other people. I listen to Placebo pretty much every day and they provide the soundtrack to most of the stuff I write. Their new album Never Let Me Go is excellent and has been played on repeat.

Bright Eyes

Another long time favourite of mine from my emo teen days. I went along to see them with fellow Substack writer John Oxley at the Hammersmith Apollo. I’ve never really sat at a gig so it was a new experience for me but they’re the type of band where that worked well. The frontman was so drunk that he needed help from his bandmates placing his hands in the correct position on the guitar and the keyboard but this was more funny than annoying and did not spoil the performance. I lamented the lack of options to eat or get a drink afterwards though. 

Red Hot Chili Peppers

One of the biggest bands of all time. Californication was the first album I ever bought and everytime I hear the title track I’m transported back to the first time I ever heard it as a 12 year old in my dad’s car in Northern France. I’d always somehow just missed out on seeing them live over the years so was thrilled to be finally able to see them this summer with an old friend of mine.

In a way I’m glad I waited as it meant I got to see their legendary guitarist John Frusciante perform who has recently returned to the band (again). They obviously know how to put on a great show. I would have preferred them to have played for much, much longer as they missed out some classics but they still played some of my favourites so I can’t complain. Their new album Unlimited Love is not their best work but still has some cracking tunes.

Slipknot

I’m still yet to see Slipknot live, but I might go to Download Festival next year and finally see them there. Their new album The End, So Far really is excellent and well worth a listen and is one of my favourite albums released this year.

Arcade Fire

The last time I saw Arcade Fire perform was at Leeds Fest in 2010. I was on the front row with someone I was dating at the time and we even saw a shooting star. As such, the gig this year had a lot to live up to. It took place at KOKO in Camden Town where I spent one summer working as a barman. I went with an old uni friend and so it really was a nostalgia fest.

They really did put on an excellent show. No comments. Their new album We is pretty decent as well.

Ghost

Like Slipknot, Ghost are near the top of my list of bands I really want to see. I find their music has an almost addictive quality to it and their new album, IMPERA is no exception and has an American Idiot style vibe to it. If you’ve never listened to them then I suggest you get yourself on Spotify ASAP.

The Killers

I’ve seen them many times before and got to see them again this summer being supported by another of my favourite bands, Blossoms. They don’t come even remotely close to disappointing. Hot Fuss provided the soundtrack to my GCSE years and I’m convinced that all British people are now born knowing the lyrics to Mr Brightside.

The 1975

Again, not seen them live. I wouldn’t describe them as one of my favourite bands, but I’ve always enjoyed some of their stuff and their lates album, Being Funny in a Foreign Language is great.

Foals

I’ve seen them live a few times and they always put on a good show and I’ve loved their stuff ever since they were overhyped by the NME all the way back in 2008. I’ve enjoyed listening to their new album, Life is Yours. Interestingly, the keyboard player has left the band to pursue a postgraduate degree in economics at Cambridge. I’m normally all for more people studying the Queen of the Sciences at the world’s greatest university but it could be an interesting case study in comparative advantage as lots of people can and do get MPhils in economics from Cambridge, whereas far fewer can have a successful career in an indie band. Regardless, good luck to the guy and hopefully he’ll subscribe to Opportunity Lost…

2023

The country and the world seem to get weirder every year and so I’m not going to bother making any predicitons. I hope you enjoyed reading this post and normal service of me writing depressing pieces about the dire state of the economy will return in January.

Thanks for reading and subscribing. I’ve really enjoyed starting this blog this year. I hope you all have a very Happy New Year and that 2023 brings you everything you want.