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Max Nathan

@maxnathan.bsky.social
3.4K followers 595 following 943 posts

Professor of Economic Geography, UCL. Also CEP, IZA. Cities, economics, innovation, diversity, and public policy. Views here are mine, not those of UCL, funders, data providers, etc. max-nathan.github.io

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Max Nathan @maxnathan.bsky.social · 02/10/2026
If you don’t get on with Sky, Community Fibre is very good. Like everyone else has said: unless you have a data centre in the garden, you should be paying £20-30 tops.
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Stephen Bush @stephenkb.bsky.social · 28/09/2026
This one raises a fascinating philosophical question: if you list your flat for £200k more than it is worth, have you really listed it, or are you just posting pictures of your home's interior online?
Georgia Dean and her husband recently took their property off the market.

He bought the two-bedroom flat in Haggerston, east London, for £470,000 in 2014. But the mortgage rate was due to rise from 1.6 per cent to 4.8 per cent: renting the flat out no longer made financial sense.

They listed it in June for £650,000, a below-inflation increase. An estate agent told them “no one would sniff around if the price stayed above £600,000”, said Dean, who works in product at a tech start-up.

In the two months before the couple pulled the listing, it attracted only two viewings.
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Max Nathan @maxnathan.bsky.social · 27/09/2026
Time for an AI beer. Wish me luck!
Anti-Establishment ‘Hazy Daisy’ New England IPA
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Max Nathan @maxnathan.bsky.social · 27/09/2026
I’m trying to write about this atm, so my thoughts are still v loose. For a much clearer analysis, read this by @aleximas.bsky.social aleximas.substack.com/p/what-will-...
aleximas.substack.com
What will be scarce?
The economics of structural change and the post-commodity future of work
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Max Nathan @maxnathan.bsky.social · 27/09/2026
It’s striking that in all these examples, the opposite of fully automated activity is doing things face to face. For cities, this is where a decent slice of post-AI work may be coming from: human-intensive consumption as a positional good.
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Max Nathan @maxnathan.bsky.social · 27/09/2026
When AI is everywhere, every restaurant will be The Yellow Bittern.
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Daniel Knowles @dlknowles.bsky.social · 26/09/2026
Some unintended consequences I suspect the rise of AI agents will create: 1. Restaurants that only take reservations by hand written letter, or more likely, don't take them at all. 2. Gigs where you can only buy tickets in person. 3. Businesses that operate without websites.
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Max Nathan @maxnathan.bsky.social · 26/09/2026
The official evaluation agrees that Help To Buy * made unaffordable places even more unaffordable * worked best in places where it was needed least … and yet concludes that it was ‘very high value for money’ 🤔 www.gov.uk/government/p...
The Help to Buy scheme represents very high value for money. The Help to Buy scheme is estimated to have generated a net present social value of £25.1 billion in 2024/25 prices over the lifetime of the scheme (April 2013 to March 2023), including projected income from equity loan redemptions up to 2039/40. This value is driven by the social benefit of the impact of Help to Buy in supporting an increase in housing supply.
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Max Nathan @maxnathan.bsky.social · 26/09/2026
Here’s the article - it’s open access www.sciencedirect.com/science/arti...
sciencedirect.com
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Max Nathan @maxnathan.bsky.social · 26/09/2026
Re Your First Home - a reminder that H2B * Raised house prices overall * Helped developer profits * In London, raised prices, not supply * In more affordable areas, supply up but no price effect Govt will have to think hard about benefits vs lessons learned, as Angela Rayner put it today.
On the economic impacts of mortgage credit expansion policies: Evidence from help to buy / Felipe Carozzi, Christian A.L. Hilber, Xiaolun Yu / Journal of Urban Economics, 2024



Abstract
We take advantage of two spatial discontinuities in Britain's Help to Buy (HtB) scheme to explore the effectiveness and distributional implications of mortgage credit expansion policies. Employing a Difference-in-Discontinuities design, we find that HtB significantly increased house prices and had no detectable effect on construction volumes in severely supply constrained and unaffordable Greater London. Conversely, HtB did increase construction numbers without a noticeable effect on prices near the English/Welsh border, an affordable area with comparably lax supply conditions. While HtB did not help would-be-buyers in already unaffordable areas, it boosted the financial performance of developers participating in the scheme.
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Neal Hudson @resi-analyst.bsky.social · 26/09/2026
Probably took about two years for H2B equity loan to be additional (deliver more new build homes than without it)
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Max Nathan @maxnathan.bsky.social · 25/09/2026
This caused absolute mayhem in my socials, as nobody called it back then
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Max Nathan @maxnathan.bsky.social · 25/09/2026
Happy 10th birthday to this masterpiece
Hannah Proctor’s A Certain Mantype, 2016

They were born in the early 80s. They went to an elite university but not to Oxbridge. They have some potted plants and like to cook from recipe books - probably they have the first Ottolenghi book but they know that's a bit passe now. They don't go out much anymore but they still check Resident Advisor from time to time because they like to think they could go out if they felt like it.

Sometimes they go to Café Oto. They were probably into Burial at some point.
They also have a favourite Mahler symphony. They've probably been to Berghain and even considered moving to Berlin in the mid-2000s. They used to stay out till dawn dancing in warehouses in Hackney Wick. Now they have a stable routine. They watch Adam Curtis documentaries to keep up with the sneery conversations on Facebook and of course Chris Morris and Patrick Keiller were always their heroes. They could make a joke about the Werner Herzog penguin documentary. They are left-wing but they would never use embarrassing words like 'solidarity' or 'comrade. They rarely, if ever, go to protests. They have a job that requires them to wear clothes that are relatively smart - a round-necked woollen jumper over a shirt, for example. They have a pure wool scarf and good leather shoes. They do not read Marx but they know enough about him to make fun of people who are obsessed with the value form. Their group of friends from university who they see less and less don't know anything about the value form though. They might own a copy of A Thousand Plateaus but it's years since they bothered reading that kind of thing. They like Jonathan Meades and Stewart Lee.
They hate Clapham even though one of their friends moved down there recently. They read the Guardian online but of course they know it's shit.
Sometimes they read articles on Jacobin. They have a long-term girlfriend but feel weird about getting married even though they've already bought some second-hand teak furniture tog…
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Max Nathan @maxnathan.bsky.social · 21/09/2026
It begins. VG from @jenwilliamsft.bsky.social giftarticle.ft.com/giftarticle/...
giftarticle.ft.com
Lobbyists move to Manchester for closer access to Number 10 North
Several public affairs firms have beefed up operations in the city since Andy Burnham opened his extra prime ministerial base there
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Max Nathan @maxnathan.bsky.social · 17/09/2026
It’s really striking that the policy mix here is all about mitigating AI impacts, rather than shaping AI adoption. For example, there is zero engagement with the pro-worker AI ideas developed by Autor, Acemoglu and Johnson. www.brookings.edu/articles/bui...
brookings.edu
Building pro-worker AI | Brookings
Daron Acemoglu, David Autor, and Simon Johnson ask: What is pro-worker AI, and how can we build it?
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Max Nathan @maxnathan.bsky.social · 17/09/2026
Very interesting from Julian Jacobs and @aleximas.bsky.social institute.deepmind.com/essays/econo...
institute.deepmind.com
Economic Policy for AGI
Society has the capacity and tools to shape our economic trajectory in the AGI era. Here is a roadmap for managing the transition.
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Gabriel M Ahlfeldt @ahlfeldt.bsky.social · 13/09/2026
Spatial-equilibrium modelling now works directly in your browser. Choose a city, draw a policy on the map, and see results by grid cell in near real time. Here is a stylised Crossrail experiment in London. 🧵 sites.google.com/view/ahlfeld...
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Sunder Katwala (sundersays) @sundersays.bsky.social · 15/09/2026
This appears decisive given a knife-edge outcome. But +15 since 2022 (with a nuch reduced inflow in Sweden) is v unlikely to be simply a migrant turnout effect. It must also be partly a solidarity/empathy effect. Nb, it is only settled migrants + minority childrem of migrants who can vote in Sweden.
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Max Nathan @maxnathan.bsky.social · 15/09/2026
Economic models? BAD Synthesising fragments of existing graphs? Please go ahead
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Max Nathan @maxnathan.bsky.social · 14/09/2026
Going to cue this up tomorrow and see how much work I get done
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The Empty City @davidallengreen.bsky.social · 11/09/2026
NEW Why holding a placard is a terrorist act, while causing disruption in a balaclava is not The mess caused by ministers and the police not taking terrorism law seriously By me at @prospectmagazine.co.uk www.prospectmagazine.co.uk/ideas/law/th...

Recent events in England now reveal the practical difference between terrorists and protesters. It would seem that terrorists peacefully hold placards and get immediately arrested, while protesters wear black uniforms and balaclavas and disrupt infrastructure and do not get arrested.

How did we get into this mess? How have we placed ourselves in the position where terrorism legislation is used to detain and prosecute peaceful protesters, while those adopting the terror tactics of private armies seem to be free to do as they wish?

The reason is that for some time British politicians have not taken terrorism legislation seriously, and that ministers have got into the habit of misusing terror laws for easy targets.
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Max Nathan @maxnathan.bsky.social · 10/09/2026
*Casually* in fact while I was writing this I ran up a lil AI detector myself
We can even make our own detector

The key ingredient to Pangram’s AI classification algorithm is access to (1) many human written texts and (2) mirroring this text using an LLM engine. I happen to have a large corpus of economics texts and an open-source LLM. Consequentially, I trained my own economics Pangram model. In a future column, I’ll walk through this model. For now, here’s the model if you’re interested in playing around with it.
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Max Nathan @maxnathan.bsky.social · 10/09/2026
Really good - and helpful - stuff from @paulgp.com #EconSky 📉📈 paulgp.substack.com/p/how-do-we-...
paulgp.substack.com
How do we know if writing is AI?
Some initial analyses of AI’s impact on economics writing
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Sam Freedman @samfr.bsky.social · 08/09/2026
One reason England does so well is our second generation immigrants outperform their peers which is not true in most OECD countries. We are also very good at integration. And it's v sad that this is never acknowledge in debates on immigration.
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AEA Journals @aeajournals.bsky.social · 03/09/2026
Forthcoming in the AER: "The Contribution of High-Skilled Immigrants to Innovation in the United States" by Shai Bernstein, Rebecca Diamond, Abhisit Jiranaphawiboon, Timothy McQuade, and Beatriz Pousada.
aeaweb.org
The Contribution of High-Skilled Immigrants to Innovation in the United States
(Forthcoming Article) - We characterize the contribution of immigrants to US innovation. Leveraging new data, we use age of SSN assignment to identify immigrant status. Immigrants represent 16 percent of inventors, but authored 23 percent of patents. Immigrant inventors contribute to knowledge diffusion across borders. They disproportionately rely on foreign technologies and inventor collaborations. Using variation from premature inventor deaths, we find immigrant inventors create stronger innovation productivity spillovers on their collaborators, as compared to US-born inventors. A simple model implies immigrants are responsible for 32 percent of aggregate innovation, over half of which is due to human capital externalities on US-born collaborators.
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Elle Cordova @ellecordova.bsky.social · 03/09/2026
Rough Draft vs Final Draft
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Ketan Joshi @ketanjoshi.co · 02/09/2026
Who would like to guess why UK, US and European media outlets are not publishing 3,000 articles per minute about this www.dukechronicle.com/article/duke...
dukechronicle.com
‘Insane data’: Duke professor Dan Ariely accused of additional research fraud
New evidence released Monday shows that Dan Ariely, professor of business administration in the Fuqua School of Business, likely tampered with or fabricated data in an influential research paper from ...
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Max Nathan @maxnathan.bsky.social · 28/08/2026
We should talk more about this!
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Max Nathan @maxnathan.bsky.social · 27/08/2026
Here’s the UK Head of Consulting at EY
UK Head of Consulting at EY says that “AI will increasingly help with routine consulting work <while human consultants will> have to be good at what we’re really good at, which is to be human . . . We have to be face to face once the agents are remote.”
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Max Nathan @maxnathan.bsky.social · 27/08/2026
A twist I should have seen coming www.ft.com/content/7fd9...
ft.com
Junior consultants called back to office as AI increases need for human skills
Artificial intelligence has made interpersonal skills more valuable, executives say
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Max Nathan @maxnathan.bsky.social · 22/08/2026
Updating my bio to cover my early years in Monthiste, before the move to deep blue Welsh Staffordshire
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👻 Jack Djinn Wail 🧞 @jacktindale.bsky.social · 22/08/2026
For the avoidance of doubt, the person posting this was Noah Smith.
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Max Nathan @maxnathan.bsky.social · 22/08/2026
And even if you do that, if you keep growth fns in London you may still get the London mindset problem No 10 North is designed to go around.
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Max Nathan @maxnathan.bsky.social · 22/08/2026
Right! I guess there’s either a structural fix - split HMT functions. Or a political one, where Burnham and Healey drive it together. But that relies on Healey steering HMT quite hard, sometimes, against gut instincts?
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Max Nathan @maxnathan.bsky.social · 22/08/2026
I need to understand the Darlington Campus better too but that also feels like an imperfect parallel? HMT have published an early evaluation which is full of interesting stories.
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Max Nathan @maxnathan.bsky.social · 22/08/2026
On comparators - fair, the BBC is a different org but high-level, the move is close enough to help think thro impacts? i.e. it helps us see they'd come from the Westminster ecosystem moving b/c direct headcount is so small.
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Max Nathan @maxnathan.bsky.social · 22/08/2026
So then No 10 and HMT get on but both want to steer growth policy, that's 1) a tricky dynamic for policy but also 2) helps us to back out No 10 North effects on direction of travel.
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Max Nathan @maxnathan.bsky.social · 22/08/2026
I missed your first piece in my writeup - doh! It's super helpful. It's striking they're struggling to draw a line on local / national growth policy. If devo helps cities grow, that helps UK Plc. And say industry policy runs through places. So all growth policy gets place-based fast from that pov?
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Max Nathan @maxnathan.bsky.social · 22/08/2026
Excellent deep background from @danbloom1.bsky.social - origin story, ways of working, key personnel and political dynamics www.politico.com/news/magazin...
politico.com
The British Prime Minister’s New Digs
A look at Andy Burnham’s Manchester office “No. 10 North” — and what it reveals about his political ambitions.
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Max Nathan @maxnathan.bsky.social · 21/08/2026
Mike Raco has written an excellent tribute here. www.ucl.ac.uk/bartlett/new...
ucl.ac.uk
Tribute to Professor Michael Edwards
We are sad to announce that Michael Edwards, Honorary Professor at the Bartlett School of Planning, passed away on 5 August 2026.
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Joe Sarling @joesarling.bsky.social · 21/08/2026
Super important chart. And proposed central-to-local secondments will help with speed to establish a greater regional presence but it'll take time to reverse on a permanent basis. Might even need to invest locally in parallel and not replace centrally over time.
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Sam Freedman @samfr.bsky.social · 21/08/2026
While this is particularly extreme I feel like I've met around 700 versions of this person at policy conferences and seminars etc... a pure policy nerd archetype.
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Ant Breach @antbreach.bsky.social · 18/08/2026
About a month until 8,000 volumes on British postwar planning and housing history gets pulped. Unless we can find someone to save it municipaldreams.substack.com/p/a-good-hom...
municipaldreams.substack.com
A Good Home Needed Urgently for One of the Most Significant Libraries of Housing and Planning in the Country
The trustees of the Octavia Hill Birthplace Museum are disposing of its Harry Simpson Memorial Library in September, next month.
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Max Nathan @maxnathan.bsky.social · 13/08/2026
CC @dianecoyle1859.bsky.social @andywestwood.bsky.social @asvalero.bsky.social @jenwilliamsft.bsky.social @henryoverman.bsky.social @andrewcities.bsky.social @rileyresearch.bsky.social @jacktshaw.bsky.social @benzaranko.bsky.social @joshih.bsky.social @samfr.bsky.social @mds49.bsky.social
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Max Nathan @maxnathan.bsky.social · 13/08/2026
🚨🎓 I wrote something about Number 10 North. Will it work? How could it change Manchester? And how will we know? maxnathan.medium.com/no-10-north-...
maxnathan.medium.com
No 10 North: will it work? And how will we know?
No. 10 North is the core of Andy Burnham’s devolution plans. Will it work, how, and can we track its effects?
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Max Nathan @maxnathan.bsky.social · 11/08/2026
Someone who’s econ-adjacent and does this well is @himself.bsky.social. Underground Empire reads like William Gibson, and that’s by design open.substack.com/pub/programm...
open.substack.com
The Apocalyptic Systems Thriller as a non-fiction genre
Political economy should steal the best tricks of science fiction and techno-thrillers.
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Max Nathan @maxnathan.bsky.social · 11/08/2026
And both of these things seem to be happening 🤔
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Max Nathan @maxnathan.bsky.social · 11/08/2026
Good or bad for London AI? Bad if you see DeepMind as the anchor, and that’s being folded back into Google / over to Mtn View Good if senior people exit into the wider London ecosystem, especially if they set up their own firms HT @benzaranko.bsky.social observer.co.uk/news/busines...
observer.co.uk
Gemini, how do we reverse the DeepMind brain drain?
A turbulent week at Google marked by CEO Demis Hassabis stepping back and the departure of four top scientists has exposed the sector’s fierce battle for AI talent
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Max Nathan @maxnathan.bsky.social · 10/08/2026
Sorry to hear this! It’s a cargo bike anxiety dream come to life … Also: did they leave the lime bikes? Or did someone film it?
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Alex Coad @coad.bsky.social · 17/07/2026
📢📢 Research Policy 12th online conference for Early Career Researchers! Fri 25th September 2026, 2-4pm (UK time) Submit a 3 page abstract by Sun 23rd August Link for submitting: forms.gle/Xu7oXsSV2zYX... Link to RP page: www.sciencedirect.com/journal/rese... #EconSky
Research Policy 12th online conference for Early Career Researchers!
Fri 25th September 2026, 2-4pm (UK time)
Submit a 3 page abstract by Sun 23rd August
Link for submitting: 
https://forms.gle/Xu7oXsSV2zYXib2EA
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