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G. R. Steele
24 August 2011
11 comments

Lord Robert Skidelsky is unlikely to have understood the anecdote in his opening remarks in the LSE Hayek/Keynes debate. He related that, after addressing an audience of Cambridge economists in...
Tom Papworth
22 August 2011
3 comments

The IEA has recently published articles by Mark Pennington on the subject of Ha Joon Chang’s 23 Things They Don’t Tell You About Capitalism. As Pennington addresses each of his...
G. R. Steele
18 August 2011
6 comments

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
comments

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...
Len Shackleton
15 August 2011
3 comments

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...
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
4 comments

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...
Kristian Niemietz
5 August 2011
2 comments

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
8 comments

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
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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...
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
4 comments

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
4 comments

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
8 comments

‘Absolute bloody idiots’, ‘insane ramblings of an extremist group’, ‘this insanity belongs in the bin’, ‘makes me wonder what these educated idiots who...
Nigel Hawkins
15 July 2011
1 comment

In recent decades, the IEA has been in the vanguard of those advocating widespread privatisation. This stance bore fruit during the 18 years of Conservative Government (1979-97) when large...
Philip Booth
13 July 2011
1 comment

If you google the phrase 'vicious public spending cuts' you get 64,000 results from UK websites. Even if 32,000 of those are references to articles written by Polly Toynbee, that...
Kristian Niemietz
11 July 2011
3 comments

Several authors of this blog have welcomed the idea of the ‘Big Society’, as long as it stands for an orderly retreat of the state from some social functions to make way for autonomous...
Mark Littlewood
11 July 2011
9 comments

The impact of fiscal stimulus packages is very limited in the short-run and positively damaging in the long-run. That was the argument put by Professor Robert Barro at the IEA's twentieth...
Mark Pennington
8 July 2011
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Last week saw large scale strike action from public sector workers here in the UK, campaigning against changes to pension arrangements and more generally ‘cuts’ to government spending....