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Richard Wellings
19 August 2013
3 comments

In a 1965 book, The Logic of Collective Action, the American economist Mancur Olson explores the impact of special interest groups on the political process. Olson’s hypotheses are derived from...
Philip Booth
16 August 2013
12 comments

On becoming governor of the Bank of England, Mark Carney made some statements about women which were somewhat intriguing. He argued that: ‘It is anomalous, it’s striking. What we have to...
Kristian Niemietz
14 August 2013
22 comments

  Suppose a time-traveller from today could go back to the 1960s. His status as ‘the man who knows the future’ quickly earns him enormous political influence, which, being a right-on...
G. R. Steele and John Whittaker
13 August 2013
1 comment

Although macroeconomic policy has become largely confined to monetary-policy initiatives - that is, meddling with interest rates - the Keynesian propensity of central bankers and finance ministers...
Kristian Niemietz
12 August 2013
6 comments

The UK now has one of the fastest-growing populations in Europe, according to a new report by the Office for National Statistics. In just one year, the population grew by over 400,000 people (to a...
Philip Booth
8 August 2013
3 comments

Yesterday morning, in response to Mark Carney’s decision to issue forward guidance in relation to the Bank of England’s monetary policy decisions, I released a quotation to the press:...
Anthony J. Evans
7 August 2013
comments

I don’t view today’s announcement by the Bank of England as being a major change in monetary policy. The inflation target of 2% remains in place and the tools with which the Monetary...
Tom Miers
6 August 2013
1 comment

  The European Union’s Financial Transactions Tax (FTT) has been hounded by misfortune from the outset. Mooted as a way of making the bankers pay back some of the bailout money they...
Len Shackleton
6 August 2013
comments

One million people on zero hours contracts, scream the media - quoting figures released today by the Chartered Institute of Personnel and Development. This is at odds with recent ONS figures...
Len Shackleton
5 August 2013
2 comments

Last week, the National Minimum Wage (NMW) celebrated its fifteenth birthday. It has not been the disaster some feared – largely because the Low Pay Commission set rates conservatively, taking...
Len Shackleton
2 August 2013
comments

I wonder what those famously cynical private eyes Sam Spade and Philip Marlowe would have made of the new regulations which Theresa May is imposing on their British equivalents? It was announced this...
Kristian Niemietz
1 August 2013
2 comments

  Milton Friedman once observed that, “with some notable exceptions, businessmen favour free enterprise in general, but are opposed to it when it comes to themselves.” With this in...
Peter Kain
30 July 2013
4 comments

We are conditioned to accept that as projects such as High Speed 2 (HS2) are progressed, the cost estimates will rise. This, of course, invalidates a cost-benefit analysis – unless benefits are...
Darshan Zala
27 July 2013
9 comments

Many have expressed the opinion that the very simple correlations shown in The Spirit Level alone can never show meaningful causality – this is correct. However, people can always claim the...
Len Shackleton
27 July 2013
comments

Matthew Hancock, the Skills minister, has been doing the media rounds asserting that British firms have ‘a duty’ to take on British workers rather than immigrants. This is rather...
Benedikt Koehler
26 July 2013
1 comment

A political chain reaction was set off in the Arab world in 2010 when Mohammed Bouazizi, a young Tunisian stall-owner, was denied a licence to ply his trade and in desperation driven to suicide. That...
Kristian Niemietz
25 July 2013
3 comments

The battle of the generations is raging. Did the Baby Boomers have an easier life? Or are the cosseted members of Generation Y – the demographic cohort born from the early 1980s onwards...
Philip Booth
24 July 2013
comments

The Catholic Church has a social teaching because social and economic relationships are human relationships. There is much room for disagreement on specific policy issues but, when it comes to the...
David S. D'Amato
19 July 2013
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Writing in The Guardian, Jesse Norman opined that recent weeks have ‘revealed a sea change in the whole nature of British politics.’ Norman says that Fabianism is forever dead in the...
Kristian Niemietz
18 July 2013
7 comments

As economists, we are used to looking at summary indicators of living standards – income, expenditure, consumption etc. – and comparing them over time. Such measures are indispensable for...