Tony Blairs “cool Britannia,”epitomized by hedge fund managers, Russian oligarchs and media stars, offered little to the working and middle classes. Despite its proletarian roots, New Labour, as London Mayor Boris Johnson acidly notes, has presided over that which has become the most socially immobile society in Europe.

via The Future Of Americas Working Class | Newgeography.com.

A very interesting perspective on how economic growth in the post-millennial western world is defined by a hollowing out of the middle, the consolidation of the super-wealthy, and the growth of a large, working-poor class. And, all of it is wrapped up neatly in a bow of complete social immobility.

It might be cliche to sound the call of the “rich get richer while the poor get poorer,” or it might be anti-conservative to suggest that there’s a policy agenda that should speak to mobility. But, having spent time in places like Bangladesh, Indonesia, or Mexico, I can attest to the value of social mobility. In fact, I would go so far as to say that the notion of “freedom” to which we vigilantly cling as conservatives is best reflected by social mobility, or “opportunity.” The freedom to take risks and strive for a greater future, the freedom to take risks, fall flat on one’s face, and be able to pick themselves up again. Each of these freedoms is dependent on access to capital, healthcare, and education, and a social net to some degree – making the each of these – capital, health, education, and welfare – fundamentally conservative values, in as much as they support the most conservative value of all – freedom of social mobility.

There’s a fine line, of course, between creating a state in which social mobility is a driving force, and creating a welfare state. Britain appears to be struggling to find that balance, with immigration and the widely available dole wreaking havoc on their social contract.

Perhaps worse that the effects of immigration and welfare policy, however, is the corrosive dissolution of manufacturing industries. This is something that I’ve observed in my travels. The Middle Class, as we know it, is the product of reasonably well-paid manufacturing jobs – a class of employment that drove our economies through the fifties, up until the late eighties. Countries that have never had such an industrial leg up on creating a middle class inevitably stagnate at an equilibrium comprised of a wealthy elite and impoverished masses. That’s where our western economies are headed today – the loss of those jobs is corrosive to our social contract and mobility. When the middle class can no longer afford to perpetuate itself, you’re left with Bangladesh, or Rio de Janeiro.

That’s not to say that western cities are going to turn into Rio over night – though some might argue that its happening already (see: Safer in Baghdad than Chicago). Regardless, I believe as conservatives we have an obligation to forward a policy agenda that cognizant of the value of small government, but also not forgetful of the “freedoms” on which our continued success, failures, happiness, and mobility are dependent.

However, analysts note the inflation data come with a caveat as the Winter Olympics in Vancouver drove up prices in some key categories.

The consumer price data, combined with robust retail sales figures for January, has likely set off alarm bells at the Bank of Canada, economists say, as to whether the central bank can keep its conditional pledge to maintain its target rate at 0.25% until July.

via Inflation surprise spurs rate speculation.

Taiwan-based optical disc drive (ODD) maker Lite-On IT's factory in southern China is running short of about 800-1,000 workers, about 10% of its regular personnel, due to a prevailing labor shortage in the region and eastern China, according to the company.

via Lite-On IT China factory facing labor shortage.

You might not have thought it possible, but airplane seating is about to get worse. Intended for short flights where comfort isn’t considered important (by who?) and claiming passenger count increases of 50% and fare reductions of 30% (who profits here), this design adapts bus and commuter train seating to airlines with decidedly mixed results.