G. R. Steele
18 August 2011

Keynes gave little thought to generalities. He acknowledged that his prescriptions were limited to the special circumstances of the 1930s. With Bolshevism in mind, any fiscal deficit spending was...
Mark Pennington
17 August 2011

In this third and final of the series on Ha Joon Chang’s critique of ‘free market economics’ I examine his account of ‘bounded rationality’ and the case for greater...
Karthik Reddy
16 August 2011

‘Hundreds of thousands [of workers] should not have to stand to attention late into the night for the mere convenience of a few yuppies!’ These passionate words, uttered by German union...
Len Shackleton
15 August 2011

In many ways it is too early to draw conclusions for public policy from the riots which the country has experienced in the last week or so. But this does not seem to have deterred our ever-active...
Kristian Niemietz
12 August 2011

Gerhart Hauptmann´s 1911 novel „Die Ratten“ (Engl. „The Rats“), set in a deprived borough of Berlin, was a powerful critique of a concept of morality that ignored the...
Keith Boyfield and Brian Sturgess
11 August 2011
1 comment

Most voters would never have heard of the Basel-based Bank for International Settlements (BIS). However, the BIS performs a crucial role as the central banks' banker. In establishing rules on...
Philip Booth
10 August 2011

Politicians cannot stop trying to design the economy. In this respect they have a hugely over-inflated sense of their own abilities. Gordon Brown, of course, was an impulsive meddler – he...
D. R. Myddelton
9 August 2011

It is in times like these that one appreciates the advice the Irishman gave the tourist seeking directions: ‘If I were you, I wouldn’t start from here.’  In recent days...
Kristian Niemietz
5 August 2011

Objections to large material inequalities are probably as old as mankind itself. In numerous ancient legends and folk tales, the downfall of a key character is related to possessions and greed. So...
Jamie Whyte
4 August 2011

Jamie Whyte is the Head of Research and Publications at Oliver Wyman, a strategy consulting firm specialising in the financial services industry. This is his opening statement from the Keynes vs...
Mark Pennington
3 August 2011

My first post on 23 Things They Don’t Tell You About Capitalism addressed Ha Joon Chang’s dubious debating tactics when discussing ‘free market economics’. I turn now to...
David Starkie
2 August 2011

UK aviation has been a major growth industry in recent years, with high gross value added - just the sort of industry you might imagine the government would wish to encourage. Yet recent changes to...
Karthik Reddy
1 August 2011

An oft-overlooked effect of wage floors is that they permit and even encourage various forms of discrimination. Discrimination is an unfortunate yet persistent tendency that continues to exist in...
André Azevedo Alves
29 July 2011
1 comment

The severity of the current Portuguese crisis results from a mixture of internal and external factors. After an initial boost in the second half of the 1980s fuelled by EU membership and some...
Mark Pennington
28 July 2011
1 comment

Professor Ha Joon Chang has become something of a hero to those who champion heterodox economic theory and who rail against the supposed intellectual hegemony of ‘neo-liberalism’. In a...
Kristian Niemietz
27 July 2011
1 comment

This year’s issue of the United Nations’ annual World Economic and Social Survey, titled The Great Green Technological Transformation, is an assemblage of all the trendy green...
Stephen Michael MacLean
25 July 2011

Negotiations in Washington are providing an instructive lesson in political economy as both parties haggle over terms for raising the debt ceiling (currently at $14.3 trillion, to be hit on 2nd...
Paul Robinson
22 July 2011

With Britain currently fighting two wars, many commentators are claiming that the cuts in defence spending envisioned in the Strategic Defence and Security Review (SDSR) should be cancelled. There...
Kristian Niemietz
21 July 2011

‘Absolute bloody idiots’, ‘insane ramblings of an extremist group’, ‘this insanity belongs in the bin’, ‘makes me wonder what these educated idiots who...
Richard Wellings
20 July 2011

Earlier this week, in a piece for ConservativeHome, Karen Lumley MP launched an astounding attack on the IEA’s latest research paper, High Speed 2: the next government project disaster? Her...

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