Opinionomics: must-read analysis and comment

Featuring the mafia, mortgages and monetary policy.

1. You can't buck the market: David Cameron's NewBuy scheme will push house prices up (Telegraph)

Ian Cowie assesses the likely effects of Cameron's plan to subsidise the creation of 95 per cent mortgages.

2. How the Depression Made Keynesians of Capitalists: Echoes (Bloomberg)

Kenneth Lipartito writes about the failure of the first proto-Keynesians to fully internalise the lessons they had learnt, and how it almost took a second depression to undestand how to build prosperity.

3. Property rights and the economic origins of the Sicilian mafia (FT alphaville)

A brief overview of a fascinating new paper arguing that the mafia arose in Western Sicily due to a unique confluence of weak property rights, valuable produce, and collapsing feudalism.

4. Economic update – March 2012: External events key to any recovery (Left Foot Forward)

Tony Dolphin presents his monthly overview of the key economic indicators, and what they tell us about the state of the nation.

5. Inflation Solution: Will the Fed Cage the Hawks? (Fiscal Times)

Mark Thoma previews the choices likely to face the Fed's monetary policy committee as it meets this week to determine interest rates.

A fiscal hawk chases a monetary hare. Credit: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

Photo: Getty Images/Carl Court
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Nigel Farage: welcoming refugees will lead to "migrant tide" of jihadists

Ukip's leader Nigel Farage claims that housing refugees will allow Isis to smuggle in "jihadists".

Nigel Farage has warned that granting sanctuary to refugees could result in Britain being influenced by Isis. 

In remarks that were immediately condemned online, the Ukip leader said "When ISIS say they will flood the migrant tide with 500,000 of their own jihadists, we'd better listen", before saying that Angela Merkel, the German Chancellor, had done something "very dangerous" in attempting to host refugees, saying that she was "compounding the pull factors" that lead migrants to attempt the treacherous Mediterranean crossing.

Farage, who has four children, said that as a father, he was "horrified" by the photographs of small children drowned on a European beach, but said housing more refugees would simply make the problem worse. 

The Ukip leader, who failed for the fifth successive occassion to be elected as an MP in May, said he welcomed the prospect of a Jeremy Corbyn victory, describing it as a "good result". Corbyn is more sceptical about the European Union than his rivals for the Labour leadership, which Farage believes will provide the nascent Out campaign with a boost. 

 

Stephen Bush is editor of the Staggers, the New Statesman’s political blog.