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Geoffrey E. Wood
24 September 2014
1 comment

We often hear when a group of lower-paid workers goes on strike that they ‘deserve more’, that they ‘need a living wage’. There is now something called the ‘London...
Kristian Niemietz
26 February 2014
comments

41% – 3%. 27% – 0.7%. 48% – 27.8% Do these figures ring a bell? You have probably come across them in one form or another, because they form the backbone of the pro-dependency left...
John H. Cochrane
30 September 2013
1 comment

Recently, on a long car trip returning from a glider contest, I did something unusual among our liberal elite: I actually went to a McDonald’s and ate there. The lady who took my order must...
W.S. Siebert
13 September 2013
5 comments

The UK’s minimum wage began in April 1999, fulfilling a promise of Blair’s new Labour government. Blair was responding to popular demand, since the Conservative government in 1993 had...
G. R. Steele and John Whittaker
13 August 2013
1 comment

Although macroeconomic policy has become largely confined to monetary-policy initiatives - that is, meddling with interest rates - the Keynesian propensity of central bankers and finance ministers...
Len Shackleton
5 August 2013
2 comments

Last week, the National Minimum Wage (NMW) celebrated its fifteenth birthday. It has not been the disaster some feared – largely because the Low Pay Commission set rates conservatively, taking...
Stephanie Lis
16 April 2013
2 comments

In economically uncertain times, the government should strive to remove all blockages to employment, not create more. The national minimum wage is one such blockage. Whilst forced pay hikes may...
Kristian Niemietz
3 April 2013
8 comments

These are frustrating times to be a Guardian journalist. The welfare cuts, which the paper has been fighting so hard, are now taking effect – and the public’s response does not remotely...
Philip Booth
13 March 2013
5 comments

Fortunately, as I am in Iceland at the moment, I managed to miss yet another appearance on Newsnight by Paul Krugman. However, I gather that he said: ‘The British economy is somehow employing...
Emmanuel Martin
5 March 2013
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French president Francois Hollande is walking on a tightrope. Many of the promises he has made seem to be untenable. Firstly, Mr. Hollande has failed to ‘stimulate’ French growth. The...
Kristian Niemietz
26 February 2013
3 comments

If you want to get an idea of the poverty industry’s attitude towards poor people, think of an ultra-overprotective parent, who thinks the best way to spare their children from experiencing...
Len Shackleton
8 January 2013
2 comments

The Labour Party has created a stir in advance of today’s vote on restricting benefit increases by proposing a ‘jobs guarantee’ for 130,000 long-term unemployed. This would be...
Len Shackleton
11 September 2012
2 comments

Last week Ed Miliband suggested that a new Labour government could introduce a requirement for all government contractors to pay a ‘living wage’ well in excess of the national minimum...
Tim Leunig
27 January 2012
10 comments

The government’s proposed £26,000 cap on benefits for those out of work applies irrespective of circumstances and the family’s history. It will hit two groups: those with very...
Ángel Martín Oro
12 December 2011
1 comment

Almost everyone expected the Socialist Party to lose the recent Spanish elections by a wide margin. Their mismanagement of the economic crisis destroyed their credibility with the Spanish people,...
Len Shackleton
16 November 2011
1 comment

The labour market statistics released today do not make the greatest reading. UK unemployment rose by 129,000 in the three months to September, with youth unemployment rising above a million. As...
Kristian Niemietz
10 November 2011
4 comments

It was Albert Einstein who once said: ‘The definition of insanity is doing the same thing over and over again and expecting different results each time.’ He did not have social policies...
Kristian Niemietz
23 September 2011
1 comment

It may seem like a tale from a bygone age, but not that long ago the UK was envied by many of its neighbours for its impressive labour market performance. In the decade from 1998 to 2008, while the...
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...
G. R. Steele
14 March 2011
2 comments

Inflation is the process whereby ‘things’ – balloons, tyres, opinions, etc. – wbecome enlarged. Deflation is the reverse process. In economics, inflation generally refers to...