BY STEWART SLATER Baffled by Brexit? Taken aback by Trump? Perplexed by Populism? You are not alone. Countless words have been spilled over recent years trying to make sense of the West’s ongoing political convulsions. If, however, a consensus is emerging over the concerns which have driven such eruptions, less attention is given to how we should solve them, or, indeed, if we should even … Continue reading Somewheres & Anywheres
BY ANDREW GIBSON Today, the 16th September, marks the thirtieth anniversary of the pound sterling’s suspension from the Exchange Rate Mechanism (ERM), an event that broke the credibility of the Major Government, emboldened the intellectual self-confidence of British Eurosceptics, and taught important lessons about the folly of large-scale state interventions in the economy. The episode also revealed John Major’s unattractive, low cunning. ERM membership was … Continue reading White Wednesday, Thirty Years On
BY STEWART SLATER Why is it so hard to get a cab in the rain? Increasing demand surely – despite there being no recorded example of any human less than 100% waterproof, most of us prefer not to get wet. But if you are a classical economist, supply should increase to match demand. The more people want a cab, the more of them should appear … Continue reading Cabbies, Cyclists and the Cost of Living
BY BERNADETTE SPOFFORTH You cannot shut down an economy without catastrophic long-term damage. The damage of unintended consequences permeates like the butterfly effect, reaching industries and supply chains not even originally considered. From copper to turkeys, all products are made somewhere, and all services are provided by someone. Those who enjoyed their 18 months of “rest” will blame Brexit for the inflation that hits their … Continue reading Lockdowns: Entrapment of the Global Economy
THE CITY GRUMP “Current existing systems massively reward high status well connected people” As usual Dominic Cummings hit the nail on the head when answering a question on checks and balances in front of the Science and Technology Committee last week (I sometimes fantasise over what could have been achieved if the Blessed Margaret had worked with Cummings instead of our current dissembling PM). I … Continue reading What’s Eating British Capitalism?
BY DOMINIC WIGHTMAN I pull my hair out at the economic theorists attached to the current Loonie Labour leadership and those linked with the Scottish National Party (all of the former, not all of the latter). They should be done for radicalising idealistic types. These theorists keep on repeating the myth that debt is fine – a soaring national debt is no biggie because there … Continue reading Magic Money Tree Muppets