An information campaign on energy usage would have made a lot of economic sense
The prime minister’s apparent veto of a plan to persuade people to use less energy this winter has stirred up controversy. The usual rabble have been quick to decry Liz Truss for abdicating responsibility, following the old lines of those who wanted more or less restrictions during the pandemic. But economic theory can readily justify […]
Forget exploitation, motorists choose to pay sky high fuel prices
Politicians have an irresistible urge to meddle. The latest example is the fanfare orchestrated just before Easter by Chris Grayling, the transport secretary. He wrote to the Competition and Markets Authority (CMA) to criticise the price of fuel at motorway service stations. Grayling called for the UK’s three biggest operators – Moto, Welcome Break, and […]
Meat and potato pies and the Nobel Prize in economics
Tragedy struck at a mid-week game played during the holiday season in Football League Division Two. The pies ran out in the home supporters’ bar. The incident may seem trivial to those not involved. Yet it illustrates some important themes in economics, which have even gained their inventors the Nobel Prize. It turns out that […]
