Paul Ormerod
9 November 2011

To many people, this phrase is an oxymoron. How can fiscal contraction be expansionary? But the evidence suggests that this is exactly what has been happening in the United States. In terms of...
Kristian Niemietz
7 November 2011

A group of American conservatives have set up an initiative called 'We are the 53%', echoing the Occupy movement's 'We are the 99%' slogan. The name is an allusion to the fact...
Alberto Mingardi
4 November 2011

The European debt crisis is bringing Italy into uncharted waters. With an over-400 basis point spread between Italian bonds and German bunds, a 1,900 billion euro public debt, and zero growth...
James Stanfield
3 November 2011

The recent call to cap the number of charity shops on Britain's high streets sheds light on some of the hidden costs and unintended consequences of charitable giving and the fact that too much...
Terry Arthur
2 November 2011

‘Britain is today experiencing the longest period of sustained economic growth since records began in 1701.’ Gordon Brown, Budget Speech, 16th March 2005 Economic growth, or just...
Kristian Niemietz
31 October 2011

The New Economics Foundation (NEF) has earned itself a reputation as the sworn enemy of economic growth and consumption. In blending neo-Malthusian resource alarmism with relentless nagging about...
Philip Booth
26 October 2011

Since fox-hunting became illegal, banker bashing has become a new blood sport. Not only is the typical banker portrayed as being greedy, much of what he produces is said to be ‘socially...
Steve Davies
25 October 2011

Economists notoriously disagree about many things. Trade policy however is an exception. Famously, this is an area of agreement on both theoretical analysis and policy prescription. Such near...
Mark Littlewood
21 October 2011

  A year has now passed since the government published the results of its Comprehensive Spending Review. Brazenly, Danny Alexander, Chief Secretary to the Treasury, has marked the...
Mark Pennington
19 October 2011

Amartya Sen is a great economist and social philosopher whose willingness to recognise a central role for market institutions in securing economic development and individual freedom shows...
Kristian Niemietz
18 October 2011

Successful political movements emerge when people with diverging aims can be persuaded that they are really on the same side, that their aims are just different aspects of the same broader cause....
Nick Silver
10 October 2011

  The Treasury has recently published Whole of Government Accounts (WGAs), which for the first time include an estimate of the UK’s actual debt, including pension liabilities. Firstly...
Philip Booth
16 September 2011

Guido Fawkes reported recently that Polly Toynbee told the Edinburgh Book Show that left-wing people were both more intelligent and generally better people than others. Presumably by this...
Peter King
5 September 2011
1 comment

  One of the arguments used by the pro-AV campaign in the early spring was that a positive vote to change the electoral system would signal that there was a progressive majority in the...
Terry Arthur
31 August 2011

‘The fundamental principles of mercantilism and neo-mercantilism are: direction of economic life by the authorities; the belief that money is wealth; exports are better than imports (thus...
G. R. Steele
24 August 2011

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

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

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...
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...