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Philip Booth
4 February 2009
4 comments

On Monday, George Osborne made an interesting speech. It would have been a good opening statement at a dinner party of economists. There was a lot to chew on but the ideas were ill defined. But they...
Kristian Niemietz
3 February 2009
comments

One of the justifications for government intervention in the market is the presence of ‘external effects’ or ‘externalities’ which occur when individual actions adversely...
Terry Arthur
30 January 2009
8 comments

Adam Smith’s ‘agency problem’, the separation of ownership from control, enables big-business executives and directors to pursue their own agenda. All too often this results in an...
Richard Wellings
29 January 2009
comments

●  Philip Booth discusses Barack Obama on American Public Radio   ●  Peter Boettke explains why politicians are making the recession worse   ●  Donald Boudreaux has...
Kristian Niemietz
28 January 2009
10 comments

Once the current recession is finally over, poverty researchers might well find themselves confronted with a puzzle. For it is entirely possible that the downturn will actually help the government...
Terry Arthur
27 January 2009
2 comments

So Alan Milburn is back, allegedly to deal with ‘social mobility’, no less. Here we have yet another example of the government’s parallel universe (see here). Aided and abetted by...
J. R. Shackleton
26 January 2009
4 comments

In the last few days, there have been two well-publicised claims that women are likely to suffer relatively more in the gathering recession than men. The first claim was made by the TUC in a report...
Nick Silver
26 January 2009
6 comments

In his excellent book, The Origin of Wealth, Eric Beinhocker argues that it is markets, not individual companies, which are most effective at allocating resources. This apparently subtle distinction...
Richard Wellings
23 January 2009
20 comments

The Conservative Party has proposed an alternative to the £9 billion expansion of Heathrow. A high-speed rail line would be constructed along the route London-Birmingham-Manchester-Leeds to...
Philip Booth
22 January 2009
16 comments

Some people have suggested that the current crisis suggests that ‘free’ markets are dead. Given the high degree of regulatory scrutiny in the financial sector that is not a point of view...
Nick Silver
21 January 2009
12 comments

The Financial Times’ chief economics commentator, Martin Wolf, has put forward a convincing explanation for the ultimate cause of the current financial crisis. To briefly summarise, some...
Kristian Niemietz
20 January 2009
8 comments

In a recent IEA discussion paper, Nick Silver argues that official figures display less than a fifth of the UK’s actual public debt. This is because pension entitlements constitute debt in all...
Peter King
19 January 2009
18 comments

Should the UK government really be encouraging households to borrow money to buy houses in the current climate? And should it be encouraging banks to lend to them as part of the latest bailout...
Kristian Niemietz
16 January 2009
6 comments

There is a country in Europe where it is estimated that 20% of households have to live on less than half the average income. Among the working population, the bottom 30% receives just 7% of total...
John Meadowcroft
15 January 2009
12 comments

Economists often identify a dichotomy between people’s stated preferences and the preferences that are revealed when people are actually required to choose between scarce uses of their...
Philip Booth
13 January 2009
26 comments

It was interesting to see David Cameron’s library in the newspapers yesterday. There are some good choices there. Kynaston’s book on the austerity years after the war is excellent, for...
Richard Wellings
13 January 2009
4 comments

●  John Blundell advocates the privatisation of Britain’s forests – and explains why Adam Smith must be rolling in his grave.   ●  Eamonn Butler argues that...
Nick Silver
12 January 2009
6 comments

I argued in a previous blog article that an ageing population is not necessarily problematic provided pay-as-you-go (PAYG) pension systems are scaled back. However, there is always an...
Kristian Niemietz
9 January 2009
6 comments

Philip Booth’s blog article about Pope Pius IX reminded me of another historical figure who predicted, with an astonishing degree of accuracy, what life would be like in a socialist state....
Richard Wellings
8 January 2009
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State-dominated healthcare systems are failing the poor and chronically sick. And Britain’s National Health Service (NHS) is one of the worst examples. It is plagued by waste,...