Astral Codex Ten

Bank of England

3 min read

Bank of England

Article

Bank of England is a recurring organization in the Astral Codex Ten archive, appearing 2 times across 2 issues between October 04, 2021 and December 09, 2021. The archive places it in contexts such as “The standard Bank of England inflation measure”; “They give the Bank of England itself as the source for their data”. It most often appears alongside China, France, UK.

Metadata

  • Category: Organizations
  • Mention count: 2
  • Issue count: 2
  • First seen: October 04, 2021
  • Last seen: December 09, 2021

Appears In

Source Context

Recovered passages from the original issue text. When the raw archive preserved outbound links inside the source passage, they are listed directly under the quote.

Highlights From The Comments On Modern Architecture
October 04, 2021 · Original source
For architecture, the headline theory is more or less correct: we are living in an era of a technological regress. We would not be able to build most of these landmarks even if we tried. I live near a nice Victorian bridge https://en.wikipedia.org/wiki/Hammersmith_Bridge built in 1880s for around £80k. The standard Bank of England inflation measure gives inflation on a broad basket of about x110 from there to now, so the construction would have cost be around £9m in today money. Now, the bridge is still standing but needs repairs. It is not clear if the repairs can be done for less then £150m. The last time this city built a bridge over the same river, it was a much smaller pedestrian only bridge which cost £18m and then another £5m to repair just a few years later. The last time they tried to build a proper large bridge, they spent £60m on thinking about it, realised it will cost over a £1bn and abandoned the project.
Inline links: https://en.wikipedia.org/wiki/Hammersmith_Bridge
Does Georgism Work? Part 1: Is Land Really A Big Deal?
December 09, 2021 · Original source
Let's see if we can spot check some of these stats by looking up another source. Positive Money provides this graph breaking down per-sector lending in the UK. They give the Bank of England itself as the source for their data.
Inline links: Positive Money
Source: Table C1.2 Bank of England statistics via Positive Money Counting pixels and working out the percentage by hand, it looks like real estate (the two blue regions) combined for about 45% circa 2007 and climbed to 60% in 2017. The 2007 figures are smaller than those given in the above charts from The Great Mortgaging but are still huge in either case.
Inline links: Positive Money