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Paul Ormerod
9 November 2011
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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...
Paul Ormerod
12 April 2011
2 comments

The launch today of the Action for Happiness organisation promotes yet again the old canard that material prosperity does not cause happiness. True, over the past few decades measured happiness has...
Paul Ormerod
16 November 2010
5 comments

Economists have known for a long time that GDP is an imperfect measure of the overall well-being of a country. In fact, no-one has stated this more clearly than Simon Kuznets, the founding father of...

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