My Blog
The so-called ‘output gap’: another piece of economic mumbo-jumbo
The concept of the’ output gap’ is central to mainstream macroeconomics. It is not merely of academic interest. The Office
Psychology, not economics, is the key if we leave the EU
Poland is the only European country to avoid a recession during the financial crisis of 2007-2009. Polish GDP is 36
The recovery is well grounded – except in France
The coming year looks like it will be a good one. At the start of each of the past five
How Bad Has It Been? 2008-2013 in Historical Perspective
The end of a year is a good time to take stock. For the first time since 2007, prospects for
Have Bankers Been Practising Socialism? The Debate About the Top 1 Per Cent
Boris Johnson has got into trouble for his statement that it is “surely relevant to a conversation about equality” that
Britain’s New Industrial Policy: Can We Learn from the Mistakes of the Past?
The phrase ‘industrial policy’ seems to take us decades back in time. In 1964, a powerful catchphrase of the new
Rising Residential Segregation, but Less Racial Prejudice: How Can This Be?
Britain is becoming more sharply divided on ethnic lines, according to a study just published by the think-tank Demos. During
Chess and Decision Making
The World Chess Championship is underway, and the current champion – the Indian Viswanathan Anand – is trailing his young
Learn Maths, Young Person! The Secret of Success in the 21st Century
A currently fashionable pessimistic topic is the lifetime prospects of children born into the middle class. Graduate debt, lack of
The Benefits of Choice: the Battle Never Ends
Do consumer choice and competition between suppliers improve the quality of outcomes for consumers? The answer might seem so obvious
Grangemouth highlights the competitive problems of the Rest of the UK
The recovery in the British economy is now firmly established. Output in the services sector, the largest part of the
Energy and Emissions: Taxation or Technology?
Energy prices are in the news. The recent actions of some of the energy companies can plausibly be described as
Gresham’s Law in Education: How the Bad Drove Out the Good
Young adults in England have scored almost the lowest result in the developed world in international literacy and numeracy tests.
Quis custodiet? Put the regulators on trial if they screw up
The Treasury’s amendments to the Banking Reform Bill mean that senior bankers could face up to seven years in jail
Russia: how the crisis might affect future growth
The performance of the BRIC economies over the past decade or so has been mixed. Russian growth, though impressive by
Everything is crystal clear with hindsight
Are government bonds risky? This question arose a year ago, during a meeting with my bank. I wanted a low
Alibaba: not just the Forty Thieves. China at the Cutting Edge
In the whole of the 20th century, only a few countries managed to transform themselves and join the club of rich
Is the ‘rent-seeker’ dying out?
The concept of the “rent seeker” is one of the most valuable in the whole of economics. The activity of
Can England win the World Cup?
Autumn is fast approaching. The focus of the nation’s sporting interest is switching. No sooner have our boys humiliated the Australians,
Our economic recovery is real, but what we can still learn from the US?
Some people are never satisfied. The evidence is mounting that the UK economy is now on the path to recovery.
