Great reads, all 3 volumes. Hopefully more to come from Mr Anon. IB deal flow must be down badly for them to have all this extra time...

With rising real labour costs, lower profits for companies and shareholders- it is hard to see how this doesn't result in companies moving out of the UK. Potentially greater unemployment, inflation and weaker currency in the UK.

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I am a recent new subscriber, and have enjoyed all three of these articles. There are two points which relate somewhat which I would be interested in hearing/learning more about:

1. How Brexit might impact productivity. We often hear about how the UK has 'low productivity' but my assumption is that this is because of low labour costs. If labour costs increase then productivity should improve, as businesses have incentive to invest in new technology (say a piece of machinary which takes one person to run instead of two). So then output per person increases. This could lead to high wages, but cheaper products. It might also lead to improved working conditions - I think back to the talk on a shortage of truck drivers and the condition of truck-stops.

2. GDP per capita. Surely this is what we should be all focused on as a metric of improved living standards? Doesn't it tie back a little to productivity as a smaller labour force is having a greater output. It strikes me that GDP doesn't mean much to the individual if it isn't measured on a per-person basis.

Thanks again for the articles.

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