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…]
Here’s a clue: if there are things that you, as a rational citizen, would never choose to do, it’s almost certain that government should stay clear of them too. But governments rarely act rationally, and [more…]
The myth that a “no deal” Brexit will bring catastrophe to the UK is at last being shown up for the fiction that it truly is. “Remain” stalwarts are not giving up easily, however, and [more…]
In many of these essays on economics I have been at pains to point out that the prosperity of any community, anywhere, anytime, if it is to last, must be based on observance of the [more…]
The most important Brexit issues have been clouded by uncertainty, exacerbated by predictably negative forecasting by supposedly neutral authorities. This has generated a totally unwarranted fear that has paralysed the resolve of even those upon [more…]
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