Is common sense wrong?
8 May 2012 [0 Comments | 1 views]
Paul Krugman recently used his column in the ‘New York Times’ to make his point. He calls it the incredulity problem. Well actually Richard Dawkins came up with the phrase, and Krugman has merely tried to apply it to the economy. Critics of the idea of Darwinian evolution often cite the eye. To quote Krugman [...]
Are the austerians on the retreat?
8 May 2012 [0 Comments | 1 views]
Give economist Paul Krugman some credit. You may or may not agree with his views that governments across the world need to go out and spend, but he does seem to have invented a new word – one that seems to be creeping into popular usage.
The mystery of business
16 Apr 2012 [0 Comments | 1 views]
“I used to have problems making up my mind, but now I am not sure.” If there is one thing the public hate in a politician it’s uncertainty. “What do you mean you don’t know? You must be incompetent!” Shareholders are not too thrilled either, not when management in a company says: “Well we are [...]
Is Western dominance near its end?
1 Mar 2011 [0 Comments | 100 views]
A new TV series, The West and the Rest, narrated by Niall Ferguson and based on his book of the same name, will be getting its airing soon. But Ferguson’s book is not alone. The last couple of months have also seen the release of ‘Why the West rules for now’ and ‘Why the West [...]
The X-Factor: innovation and the unpredictable rise of Facebook and Twitter
20 Dec 2010 [0 Comments | 310 views]
Chris Wright, the founder and chairman of Chrysalis, has had some unkind things to say about that TV programme, The X-Factor. He makes a point, and his observations have a resonance that applies beyond the world of music. “The music industry,” he said, “hates X-Factor with a passion.” His argument is this. The programme creates [...]
Interest rates set to rise as economic tectonic plates shift – is this good or bad news?
15 Dec 2010 [0 Comments | 760 views]
A new report from McKinsey Global has just about the most far reaching predictions we have seen in years. The report forecasts higher interest rates across the world. That’s real interest rates, by the way. If the predictions are right, and actually, we suspect they are, this will of course be bad, bad news for [...]
Indebted Japan slashes corporate tax, but what we need is a global corporate tax
14 Dec 2010 [0 Comments | 308 views]
While we fret over government debt approaching 100 per cent of GDP in various countries across Europe, don’t forget Japan. Here is a country whose debts as a percentage of GDP are simply huge. And yet how does Japan respond to its own crisis – why, it cuts taxes. Take its latest move, announced this [...]
The UK, Russia, trust and corruption
3 Dec 2010 [0 Comments | 559 views]
“Oh, them Russians,” as that famous group of economic forecasters, Boney M, once said. No doubt today you are as sick as the author of hearing about how the UK lost its bid to host the World Cup. But what we did think may make an interesting piece is the economics of corruption, and maybe [...]
The economics of happiness: is Cameron right?
26 Nov 2010 [1 Comment | 625 views]
The epiphany came in 2006. At least, that’s when the future prime minister of Britain and Northern Ireland first went public when he said: “It’s time we admitted that there’s more to life than money, and it’s time we focused not just on GDP but on GWB – General Well-Being.” And now our beloved Office [...]
Why the super rich should pay more tax, and the rest should pay a lot less
22 Nov 2010 [6 Comments | 1,440 views]
During the last economic boom, families on median income found that their discretionary disposable income hardly went up at all. Sure, the UK boomed. The UK enjoyed its longest ever run of uninterrupted economic growth, but the wealth created did not trickle down, at least not in any significant way. Does it matter? If you [...]
