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Andrew Lodge @andrewwj.bsky.social · 21h

Indeed. It’s *not* “seg-yu”.

Andrew Lodge @andrewwj.bsky.social · 22h

Also segue. Ugh.

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Andrew Lodge @andrewwj.bsky.social · 1d

Hyperbole. Still makes me mildly shudder remembering someone correct me and explain it for the first time.

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Andrew Lodge @andrewwj.bsky.social · 1d

Very useful thread on the Nobel economist winners’ work.

John Cassidy @johncassidysays.bsky.social · 1d

No surprise that Aghion/Howitt got the Nobel. I've always admired the spirit of their growth model--centering innovation and ideas. But even when I did more math, the details I found tough going. Is there a simplified version anywhere that illustrates its essence?

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Andrew Lodge @andrewwj.bsky.social · 1d

Amsterdam: enjoyable, surely?

Andrew Lodge @andrewwj.bsky.social · 5d

Oh my, I’d blotted the Bertie Vogts era out of my memory…

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Andrew Lodge @andrewwj.bsky.social · 5d

Isn’t it? Keith Ambachtsheer is a fascinating guy (in as far as pension governance specialists go).

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Andrew Lodge @andrewwj.bsky.social · 5d

Unbelievable. The BBC website had it right (“scarcely believe able”). But, can’t complain.

World Cup qualifying - Scotland’s scarcely-believable 3-1 lead over Greece

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Andrew Lodge @andrewwj.bsky.social · 5d

corpgov.law.harvard.edu/2022/12/08/h...

How Peter Drucker Revolutionized Canada’s Public Sector Pension System: Lessons for Americans

“They own assets all over the world, including property in Manhattan, utilities in Chile, international airports, and the high-speed railway connecting ...

corpgov.law.harvard.edu

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Andrew Lodge @andrewwj.bsky.social · 5d

Very good. The Canadian model is clearly excellent, in terms of governance & staffing. Have you read Keith Ambachtsheer (Canadian pensions legend) on the history? Apparently it was Peter Drucker’s 1976 Unseen Revolution which influenced the Ontario pension reforms in 1980s, which led to CPPIB etc

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Andrew Lodge @andrewwj.bsky.social · 5d

Interesting in Canada. Many top politicians are lawyers by degree. Some public administration undergrad, some history or economics. (Only this PM is a PhD economist). More university variety. Less cliquey than UK? Not clear.

Andrew Lodge @andrewwj.bsky.social · 6d

I agree with this. Simon Johnson at MIT, Nobel economist for his work on global inequality, is a good example of PPE undergrad success.

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Andrew Lodge @andrewwj.bsky.social · 6d

Isn’t it more about the culture and network at Oxford around the Oxford Union?

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Andrew Lodge @andrewwj.bsky.social · 6d

Simon Johnson, PPE undergrad, later Nobel Prize economist & MIT professor for his work on global inequality?

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Andrew Lodge @andrewwj.bsky.social · 8d

Excellent newsletter, thanks.

I’ll dig out the data for Canada. There’s similarly high food inflation in Canada, I expect (for idiosyncratic reasons: lack of competition - the competition bureau found grocery chain pandemic profit margins had a sustained increase, unlike other countries).

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Andrew Lodge @andrewwj.bsky.social · 8d

A surprising number of finance commentators have said things like “oh my, the UK will be in 1976 IMF bailout territory soon”. Despite UK now having a much more flexible economy and a pretty well-respected central bank.

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Andrew Lodge @andrewwj.bsky.social · 10d

Agreed. His podcast is good too. Big surprise for me (my mistake for prejudging..?)

Andrew Lodge @andrewwj.bsky.social · 11d

Good point.

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Andrew Lodge @andrewwj.bsky.social · 12d

Excellent reporting, thanks.

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Andrew Lodge @andrewwj.bsky.social · 14d

It’s an initiation ritual for the hardcore central banking priesthood… Not set up for casual readers

Andrew Lodge @andrewwj.bsky.social · 14d

Definitely one of the top 5 items on his monetary policy list

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Andrew Lodge @andrewwj.bsky.social · 16d

We need more BSky sports discussions. Amazing final day.

The Guardian @theguardian.com · 16d

Lowry sinks putt that retains Ryder Cup for Europe as they hold off US comeback

* Irishman’s birdie takes Europe to crucial 14 points * USA stage amazing fightback but lose 15-13 overall Two points. Two miserly points from 11 matches. So easy to say, much harder to actually accomplish. Anybody in any doubt about that need only ask Luke Donald. A Ryder Cup broke out under the blaring sun at Bethpage Black on Sunday. The competitive spirit summoned by the United States of America ultimately was not enough to rip the 17-inch trophy back from Europe’s grasp but wow, did they give Donald and his players a shuddering fright. A singles session that started with the visitors eyeing a procession and record breaking was dominated by Keegan Bradley’s US team. Donald surely feared one of the worst sporting capitulations of our time. How would they recover? How would Europe’s golfers ever recover? Continue reading...

www.theguardian.com

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Andrew Lodge @andrewwj.bsky.social · 16d

Ah, that makes sense. No problem! I remember from HMT days that many policymakers, politicos found it hard to distinguish the various roles of the spectrum of financial firms. In some cases the UK is globally outstanding with only benefits for the UK (& globally). And others: not (eg RBS 2007).

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Andrew Lodge @andrewwj.bsky.social · 17d

“Financial sector firms” covers a very wide grouping, some of which the UK provides globally. Or houses for global firms. E.g insurance, clearinghouses, asset management, associated legal & accounting services. It’s important to the UK economy. But not about financing the real UK economy.

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Andrew Lodge @andrewwj.bsky.social · 18d

This is really interesting. Excellent arguments. The only part I felt didn’t hang together so well is the final point linking BlueSky & Twitter - is the interaction between them so important to each? Felt like that needed more clarification.