Typically, the general public confuses any economic phenomenon with its manifestation. Both are thought of as the same thing. For example, the phenomenon “inflation” is assumed to mean the same thing as its manifestation, which [more…]
Much has been made of Britain’s trade deficit, which is the amount by which our imports of goods and services exceed our exports. The same phenomenon is evident in many other strong economies, including the [more…]
The government of a totalitarian state doesn’t have to worry about a tax system because the nation’s entire output is already in its hands. This is a mirror image of what happens in a democracy, [more…]
Going Global on 3 September The purpose of taxation is to raise revenue to enable the state to finance its legitimate work. What that work may be, in a democracy, is a matter for citizens, [more…]
The last crash 2007/2008 Before the last financial crisis in 2007/2008 sub-prime mortgages were all the rage. The idea was that if mortgage lenders put a pot-pourri of mortgages in a parcel, the risks attaching [more…]
Surpluses & Deficits are Hotly Debated – But What About the Currency? Much has been made of Britain’s current account deficit, which is the amount by which our imports of goods and services exceed our [more…]
1 – Reminder: People (Not Nations) Trade Sir James Dyson has recently entered a plea for the UK to focus on the world’s fastest-growing markets, noting that the UK doesn’t need to be a member [more…]
While combatants wrestle over potential outcomes of the Brexit debate, we should recognise the part played in all these shenanigans by fear, borne of uncertainty. Many warnings against the dire consequences of leaving the EU [more…]
I find it instructive periodically to look back on what I have written before – even several years before. It is instructive because it highlights my understanding of a particular issue at that earlier time, [more…]
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