Why the economics profession remains blind to the benefits of Brexit
The office for National Statistics last week estimated that the UK economy grew at an annual rate of 2.4 per cent in the final quarter of last year. This is slightly above the long-term average growth of the past three decades. But a Financial Times survey this month showed that the majority of economists remain […]
Old Europe’s poor innovation record is a harbinger of long-term stagnation
The economic debate around Brexit has been disappointing. Far too many of the points focus on the short-term. Would Brexit precipitate a sterling crisis? Well, if it did, at some point the currency would bounce back? Would it tip us into a recession? Maybe, but recessions come to an end. The key economic question, not […]
What game theory tells us about David Cameron’s EU deal
Game theory is the study of how rules and tactics affect outcomes, and it is pervasive in academic economics. The opening sentence of one of the economics courses at Cambridge pontificates: “Optimal decisions of economic agents depend on expectations of other agents’ actions”. Translated into English, this means that, for someone in a negotiating situation […]
