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…]
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…]
When on holiday in New York and Philadelphia recently, we were struck by the innumerable public benefits that wealthy foundations, trusts, charities and bequests have bestowed upon cities hungry for cultural enrichment. I realise, of [more…]
My colleague Steven Spencer has reminded me of an anecdote relayed by the owner of a brand new Corvette sports car. A bystander speculated: “I wonder how many people could have been fed with the money [more…]
One of last Monday’s blog-readers, “WinstonSmith”, challenged me to describe what I would do if, after Britain has finally left the EU, I were to be appointed Prime Minister! Well, I can’t miss out on [more…]
My mission for this week A number of readers who responded to my post last Monday, on “inflation and interest rate suppression”, asked me to explain the roles of the International Monetary Fund (IMF), the [more…]
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…]
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