Marginal Babble

The Tenant Fees Act 2019 did something rare in housing policy, it actually worked… Tenants saved hundreds of pounds, letting agents absorbed the shock and the market did not collapse. If you care about renting, regulation, or why some policies deliver exactly what they promise, this conversation is for you. Max and Nikhil break down the economics behind tenant fees, why the old system was a textbook case of opaque pricing, and how banning those charges changed behaviour across the rental market. They also get into drip pricing, market power, house-building targets, NIMBY politics, the Green Belt, devolution, and the renters' rights bill. Professor Nikhil Datta:https://nikhil-datta.com/ “Successful caps on English letting agents’ fees disprove the idea that it’s unwise to meddle with free markets”:https://theconversation.com/successful-caps-on-english-letting-agents-fees-disprove-the-idea-that-its-unwise-to-meddle-with-free-markets-240708 “The Equilibrium Effects of Regulating Junk Fees: Evidence from the Rental Brokerage Market”:https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5200278 Timestamps:00:00 Intro01:05 Tenant Fees Act 201905:18 Can Regulation Make the Market More Efficient?10:27 The Effects of the Tenant Fees Act 201912:16 Why Economic Theory Failed…15:16 More Effects of the Tenant Fees Act 201920:43 Why Was THIS Policy Successful? (and not others…)24:27 How to Design Better Housing Policy33:12 Is Building New Towns the Answer?41:04 Should New Towns Offer Financial Incentives?45:28 The North-South Divide in Housing48:45 Will De-centralisation Help?54:46 Effects of the Renters Rights Bill01:04:31 What Future Research Should be Conducted? Socials:TikTok: https://www.tiktok.com/@marginalbabbleInstagram: https://www.instagram.com/marginalbabble/X: https://x.com/marginalbabbleBluesky: https://bsky.app/profile/marginalbabble.bsky.social/Website: https://marginalbabble.co.uk/ #housingregulation #rentalmarkets #economics

In this episode, we dive into the world of labour economics, specifically, into how minimum wage policy affects business investment and productivity. Professor Matthew Gustafson and I unpack the real-world effects of minimum wage policy, from employment and capital expenditure to productivity, automation, and long-term economic growth. Professor Matthew Gustafson:https://directory.smeal.psu.edu/mtg15 ‘Higher Minimum Wages Reduce Capital Expenditures’:https://pubsonline.informs.org/doi/10.1287/mnsc.2022.4430 Timestamps:00:00 Intro01:26 Why Study Minimum Wage Economics?03:50 What is Minimum Wage Policy?05:30 Does Minimum Wage Policy Work?08:21 Does Minimum Wage Affect Investment? (Matthew’s Research)17:58 Context Matters21:38 The Data Behind Matthew’s Research24:38 How Important is Private Investment to the Economy?27:59 Can Minimum Wage Policy Be Improved?33:55 Arguments For/Against a Minimum Wage37:42 Future Research We Need41:44 Common Misunderstandings About Minimum Wage44:05 How Will Minimum Wage Rhetoric Change… Socials:TikTok: https://www.tiktok.com/@marginalbabbleInstagram: https://www.instagram.com/marginalbabble/X: https://x.com/marginalbabbleBluesky: https://bsky.app/profile/marginalbabble.bsky.social/Website: https://marginalbabble.co.uk/

The global sex work industry generates an estimated $69 billion annually (worldmetrics.org, 2026) and provides income for millions of sex workers globally. In the UK alone, there are approximately 72,800 sex workers according to the English Collective of Prostitutes. In this episode of the Marginal Babble podcast, we explore the economics of sex work, from global industry scale to how researchers estimate hidden populations. We discuss why data relating to sex work is so hard to measure, how legal status affects market size, and how internet platforms have changed safety, pricing, and regulation. Professor Stefan Adriaenssens:https://www.kuleuven.be/wieiswie/en/person/00002299 SEX WORK BY NUMBERS: Bridging Economics and Social Sciences to Understand the Hidden World of Commercial Sex:Free: https://www.emerald.com/books/monograph/20949/Sex-Work-by-NumbersBridging-Economics-and-SocialAmazon: https://www.amazon.com/Sex-Work-Numbers-Understand-Commercial-ebook/dp/B0FV2QKM3D  Timestamps00:00 Intro00:40 Do You Make Sex Boring?01:26 The Scale of the Sex Industry06:08 How Do Economists Estimate Sex Work?09:09 The Objectives of the Book (plus feelings…)        11:54 Does Sex Work Match Economic Theory?20:31 Remuneration for Loss of Reputation24:14 How the Internet Has Affected Sex Work31:18 Affects of Legalisation/Criminalisation of Sex Work36:34 Surprises in Writing the Book38:29 Policy Recommendations41:52 Misconceptions About Sex Industry43:00 Where Do We Need More Research?44:27 Final Thoughts Socials:TikTok: https://www.tiktok.com/@marginalbabbleInstagram: https://www.instagram.com/marginalbabble/X: https://x.com/marginalbabbleBluesky: https://bsky.app/profile/marginalbabble.bsky.social/Website: https://marginalbabble.co.uk/

Americans are paying more for healthcare than almost any other nation… Yet the system remains flawed, shaped by a century of strategic battles, PR campaigns, and powerful interest groups. In this episode of Marginal Babble, we examine the roots of today’s high costs, uneven access, and entrenched privatization going back nearly a hundred years. Professor Alsan unpacks how the private healthcare system in America was built through a politically orchestrated campaign by the AMA and innovative PR firms like Whitaker & Baxter. Aggressive tactics turned a voluntary, doctor-led prepayment model into the foundation of today’s complex, profit-driven industry. This early battle set the stage for modern issues: lack of price negotiation power, skyrocketing costs, and persistent inequalities. “Why Doesn’t the United States Have National Health Insurance: The Role of the American Medical Association”:https://academic.oup.com/qje/article/141/3/2147/8669893?login=false Professor Marcella Alsan:https://alsan.scholars.harvard.edu/ Timestamps:00:00 Intro00:41 American Healthcare Before WWII06:02 Influence of the AMA (American Medical Association)10:43 Whitaker & Baxter (the First Political Consultants)16:12 Introduction of Health Insurance22:33 How Private Healthcare Changed Over Time27:30 Was Private Healthcare Possible Without Whitaker & Baxter29:41 Legacy of Whitaker & Baxter31:14 Challenges of Private Health Insurance Socials:TikTok: https://www.tiktok.com/@marginalbabbleInstagram: https://www.instagram.com/marginalbabble/X: https://x.com/marginalbabbleBluesky: https://bsky.app/profile/marginalbabble.bsky.social/Website: https://marginalbabble.co.uk/

This episode explores how six medieval kings helped shape the English state. From John and the Magna Carta to Edward III’s reforms and Richard II’s downfall. Professor Caroline Burt & Professor Richard Partington explain how war, taxation, common law, Parliament, and the struggle for lawful rule turned kingship from a personal power into something more accountable and institutional. We unpack what made a “good” ruler during this period, why charisma and temperament mattered, and how Christianity and European politics influenced governance. Arise, England: Six Kings and the Making of the English State:University of Cambridge Publications: https://www.hist.cam.ac.uk/publication/arise-england-six-kings-and-making-english-stateAmazon: https://www.amazon.co.uk/Arise-England-Kings-Making-English/dp/0571311989 Professor Caroline Burt:https://www.hist.cam.ac.uk/people/dr-caroline-burt Professor Richard Partington:https://www.joh.cam.ac.uk/research/academics/fellows/richard-partington Timestamps:00:00 Intro00:45 Early ‘English’ Governance05:57 Synopsis of English Kings (1199 to 1399)16:43 What Constitutes a Good King?22:45 Is John Over Villainised?28:07 The Importance of Charisma31:28 Did John’s Cruelty Lead to Magna Carta?36:27 The Surprising Success of Henry 3rd42:24 How Christianity Influenced the English State50:00 A Great & Terrible King: Edward 1st55:40 Do Bad Rulers Follow Good Rulers?58:51 The Reign of Edward 3rd01:06:19 The Tragedy of Richard 2nd01:12:45 Were the English Kings…English?01:19:20 What 7th King Would they Add?01:23:19 What Lessons Can we Learn? Socials:TikTok: https://www.tiktok.com/@marginalbabbleInstagram: https://www.instagram.com/marginalbabble/X: https://x.com/marginalbabbleBluesky: https://bsky.app/profile/marginalbabble.bsky.social/Website: https://marginalbabble.co.uk/