John Burn-Murdoch

John Burn-Murdoch

@jburnmurdoch.ft.com

Columnist and chief data reporter the Financial Times | Stories, stats & scatterplots | john.burn-murdoch@ft.com 📝 ft.com/jbm

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We’re going to hear lots of stories about which people, policies and rhetoric are to blame for the Democrats’ defeat. Some of those stories may even be true! But an underrated factor is that 2024 was an absolutely horrendous year for incumbents around the world 👇 

John Burn-Murdoch reposted

John Burn-Murdoch reposted

My latest @nbcnews.com investigation dropped this morning -- We analyzed the YouTube watch histories of 11 students to look into how some students end up viewing over 5,000 YouTube videos in class, on school-issued laptops, in a single school year www.nbcnews.com/specials/hoo...

nbcnews.comHow YouTube junk is infiltrating classroomsSchools wanted educational videos. Students got clickbait. A first-of-its-kind analysis reveals how students are drawn into a platform that keeps them scrolling during class.

John Burn-Murdoch reposted

Was an honor to speak to Marketplace on NPR this morning about my piece on AI-driven arts job loss & what it means for creative industries. Give it a listen! www.marketplace.org/episode/2026...

marketplace.orgWhat AI is doing to jobs in creative fieldsAn analysis by writer and economist Joey Politano found that the U.S. has lost more than 200,000 jobs in creative industries over the last four years.
Joey Politano🏳️‍🌈@josephpolitano.bsky.social

NEW from me: Over the last 4 years, America has lost more than 200k jobs in creative fields like publishing, film, TV, or graphic design. It's the worst stretch for arts jobs outside of recessions. How much is AI to blame? And can the arts' business model survive?🧵 www.apricitas.io/p/ai-and-the...

This is great work from Will, breaking down the evidence on the impacts of rent control according to the finer details of the policy 👇

Will Thorne@wbthorne.bsky.social

This graph is a good reason to introduce my new paper: By Generation and by Design: A Review of the Empirical Rent Control Literature. This paints a (somewhat) misleading picture of rent control evidence because it groups all rent control together regardless of design feature.

What’s the evidence on rent control? I charted the findings from 112 studies: Great for rent-controlled tenants ✅ But: Pushes up rents for other people ❌ Pushes down new housing construction ❌ Pushes down building quality ❌

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What’s the evidence on rent control? I charted the findings from 112 studies: Great for rent-controlled tenants ✅ But: Pushes up rents for other people ❌ Pushes down new housing construction ❌ Pushes down building quality ❌

Doesn’t mean rent controls never have any place in housing policy at all, but they have many proven downsides and unless they’re accompanied by big increases in supply they risk making the overall housing situation worse.

John Burn-Murdoch reposted

Manchester City cheated Premier League rules, the Commission found. Did it also cheat HMRC? We've examined the decision and leaked Mancini documents. We think City likely failed to pay £12m in tax. There should be a criminal investigation. Thread:

John Burn-Murdoch reposted

In both China and the west, the gig economy has become a sort of safety net/labour market shock absorber. But automation is coming for a lot of this work. Which means the biggest impact of AI/robots might unfold in the dark, in the part of the economy hardest to track. www.ft.com/content/a2c3...

New from us: Anthropic just published scenarios for AI’s possible economic impacts, which range from minimal, to explosive GDP growth of 15% by 2030 as knowledge-worker unemployment hits 18%. I sat down with their co-founder Jack Clark to pick his brains on how they’re thinking about all of this.

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New from us: Anthropic just published scenarios for AI’s possible economic impacts, which range from minimal, to explosive GDP growth of 15% by 2030 as knowledge-worker unemployment hits 18%. I sat down with their co-founder Jack Clark to pick his brains on how they’re thinking about all of this.

Two extraordinary charts from today’s PISA test results: 1) School test scores continue to collapse internationally, underscoring how this is no longer a Covid effect but sustained decline. Those falls in reading and maths are equivalent to about two years of lost schooling.

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Two extraordinary charts from today’s PISA test results: 1) School test scores continue to collapse internationally, underscoring how this is no longer a Covid effect but sustained decline. Those falls in reading and maths are equivalent to about two years of lost schooling.

2) England is a rare exception. During the 2010s many other countries (including the other 3 UK nations) changed tack, experimenting with ideas like transferrable skills instead of focusing on tried-and-tested disciplines and methods. It looks like those experiments have failed.

New from me: Britain’s graduate earnings premium is falling, cue “too many go to university!” But non-university outcomes are also bad, cue “we must reform vocational routes!” Both miss the point: people used to think education drove economic outcomes, but the economy drives educational outcomes.

John Burn-Murdoch reposted

"Whether we like it or not, the future of jobs lies in largely non-traded, labour absorbing activities such as retail, food services, hospitality, care and other personal services. The Left cannot evade this reality."

Dani Rodrik@drodrik.bsky.social

My thoughts on where Andy Burnham’s (and the Left’s in general) priorities on the economy should be futureoftheleft.substack.com/p/the-left-m...

New from me: Until recently, the gap between comfortably-off and just-getting-started could plausibly be crossed in a decade or two of hard work. Growth in asset prices means that’s no longer true: even a lifetime of striving doesn’t offer a realistic prospect of feeling you’ve “made it”.

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Given how little the typical person saves, the passive gains that even the average asset-holder benefitted from can amount to decades’ worth of what someone can reasonably expect to save from their salary. Or the equivalent of moving from median to 75th percentile of the wage distribution for life.

New from me: Until recently, the gap between comfortably-off and just-getting-started could plausibly be crossed in a decade or two of hard work. Growth in asset prices means that’s no longer true: even a lifetime of striving doesn’t offer a realistic prospect of feeling you’ve “made it”.

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Key question is whether the boom in wealth vs income was a one-time thing, whether it will slowly unwind, or widen further. Tumbling rates in 1980s/90s were distinct moments. Credit/QE similar. But other forces ongoing (e.g superstar cities + weak housing response -> rising land & property prices)

And even where this was a one-time event it leaves a long shadow. Medium term it supercharges inter-generational inequality (young people had no assets so no boom). Long term, the children of asset owners will receive a big financial boost; the children of those who had no assets won’t.

New from me: Until recently, the gap between comfortably-off and just-getting-started could plausibly be crossed in a decade or two of hard work. Growth in asset prices means that’s no longer true: even a lifetime of striving doesn’t offer a realistic prospect of feeling you’ve “made it”.