A friend of many years’ standing has sent me an essay written by his 21-year-old grandson, now entering his final post-graduate year. It purports to establish that Capitalism and human survival on Planet Earth are [more…]
A couple of months back, in the context of blaming the government’s inflexibility for its failure to achieve a deal with the EU over Brexit, Jeremy Corbyn railed against the Tory Party, declaring that it [more…]
Firstly, as a relatively new Going Postal contributor, I must express my sincere thanks to the discriminating GP readers who rewarded my efforts their votes for my economics essays last November. And what a reward! [more…]
Few people understand the purpose of so-called “legal tender”. It is widely believed that the government’s legal tender laws protect citizens’ money by formally designating it as the official medium for the settlement of transactions. [more…]
More often than not, regulation is a cover-up for exploitation or protectionism – probably both. Thoughtless, invasive regulation has become unstoppable. Traders and consumers adhere to the idea that highly regulated markets serve their interests, [more…]
It must be clearly stated that Theresa May’s “deal” was not a compromise at all – it would have been nothing short of a humiliating capitulation. Let’s be in no doubt – the PM’s proposed [more…]
The French economist Frederic Bastiat is chiefly remembered for having developed the concept of “opportunity cost” or, more colourfully, “that which is seen, and that which is not seen”. We could put it more simply: [more…]
Governments rarely set out to take responsibility for every single issue, but that usually happens anyway. As a result there is a growing expectation by citizens that, whatever the problem, it is the government’s job [more…]
Last week’s economics essay generated some interesting responses, four of which prompt me to expand on their subject matter. 1 – Understanding the relationship between imports and exports The first of these expressed some puzzlement [more…]
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