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Richard Wellings
22 June 2009
22 comments

Britain now faces its worst ever peacetime fiscal crisis, yet our politicians seem incapable of grasping the seriousness of the situation. Indeed, when Andrew Lansley suggested recently...
Richard Wellings
11 June 2009
26 comments

The RMT has once again brought London to a standstill with a 48-hour strike. This is a good example of public choice theory at work, in particular Mancur Olson’s logic of collective action. A...
Richard Wellings
8 June 2009
8 comments

For several decades the British economy has been hampered by the poor quality of its infrastructure. Whether in transport, education or health, investment has typically been low by international...
Richard Wellings
8 May 2009
22 comments

The projections in last month’s Budget were terrifying. They suggest that net government borrowing is likely to reach unprecedented levels over the next three years:   ● 2009-10:...
Richard Wellings
2 April 2009
4 comments

Gordon Brown may be advocating a further fiscal stimulus as a means to promote economic recovery at today’s G20 meeting, but, certainly in Britain’s case, implementing such a policy...
Richard Wellings
12 March 2009
16 comments

Benefit rates are set to rise substantially next month. State pensions will rise by 5%, while means-tested payments, such as Jobseeker’s Allowance, will rise by 6.3%. The new rates, based on...
Richard Wellings
23 February 2009
7 comments

The part-nationalisation of Britain’s banks represents a further extension of state power and the erosion of private property rights. There is a huge danger that under political influence the...
Richard Wellings
13 February 2009
8 comments

From a monetarist perspective, a strong case can be made in support of the Bank of England’s decision to engage in quantitative easing. A severe deflationary shock would cause big problems for...
Richard Wellings
5 February 2009
2 comments

Recent unrest in Latvia and Bulgaria has emphasised the economic difficulties faced by the formerly communist countries in central and eastern Europe. Indeed a new IEA study, New Europe’s Old...
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...
Richard Wellings
8 January 2009
comments

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,...
Richard Wellings
5 January 2009
4 comments

Will a green ‘New Deal’ help get Britain out of recession? The Liberal Democrats, for example, have proposed the reopening of disused railway lines as a means of boosting the economy....
Richard Wellings
18 December 2008
4 comments

The Madoff scandal is yet more bad news for the financial sector. Several major banks may have lost hundreds of millions of dollars in the alleged scam. An important question is whether this would...
Richard Wellings
16 December 2008
22 comments

Following the bailout of several banks, the government is now considering measures to ‘save’ the British car industry. Such a bailout would be wrong in itself but would also set a very...
Richard Wellings
25 November 2008
14 comments

One of the most noteworthy elements of the 2008 Pre-Budget Report was the planned increase in income tax rates to 45% for those earning over £150,000. This measure is intended to...
Richard Wellings
21 November 2008
12 comments

Yesterday it was announced that the Greater London Authority (GLA) is to create 50,000 ‘affordable’ homes. But do such schemes actually increase the affordability of housing? When developers are...
Richard Wellings
11 November 2008
15 comments

The last century has seen a steady expansion of the ‘nanny state’, a process that has arguably accelerated in the last decade. A ‘banning culture’ has developed, with...
Richard Wellings
3 November 2008
2 comments

According to official figures, almost two million people are now unemployed in the UK. That number is rising rapidly as the economy shrinks. This means extra expenditure on welfare benefits, putting...
Richard Wellings
24 October 2008
6 comments

Alistair Darling’s proposed spending spree on bringing forward major capital projects suggests the government is prepared to sacrifice the economy’s long-term interests for short-term...
Richard Wellings
16 October 2008
6 comments

Several bloggers, including Guido Fawkes, have rightly emphasised the relevance of Ludwig von Mises’ work to the current financial crisis. The writings of Mises’ pupil, Nobel...