Last month I wrote about the massive waste implicit in government-sponsored bureaucracy – at local and central levels. The craving for a sense of importance leads small-minded apparatchiks to seize power over others by controlling [more…]
In Lewis Carroll’s “Through the Looking-Glass” Humpty Dumpty tells Alice: “When I use a word it means just what I choose it to mean—neither more nor less.” Humpty’s subjective approach to verbal meanings is of [more…]
Any catalogue of economic legends would of course include the 2008 visit of Queen Elizabeth to the London School of Economics, when the country was experiencing an unprecedented housing market bubble based on the irrational [more…]
I have written on the subject of currency debasement many times, but it is now reaching crunch-time – even for the pound, dollar, yen and euro. Most respected economists persist in defining inflation as a [more…]
Why do I persist in writing these essays on economic issues? Certainly not to influence government policy – that would indeed be a forlorn hope, despite the strength of support coming from most of my [more…]
Veteran observers of economic folly have the advantage of experience. They are already familiar with the failed policies being enacted, yet again, by unprincipled politicians whose sole motivation is re-election. In the meanwhile these pillars [more…]
With prices increasing rapidly across a wide range of materials, goods and products, especially basics like foodstuffs and energy, it is astonishing that what citizens now encounter every day is so persistently, and perversely, denied [more…]
Boris Johnston informed the Conservative Party conference a few weeks ago that he “has the guts to turn the UK into a dynamic high-wage economy”. But he said nothing about how he would achieve this [more…]
Following his interview with Vladimir Lenin on the subject of inflation in 1919, John Maynard Keynes quoted the Russian as having said “The best way to destroy the capitalist system is to debauch its currency”, [more…]
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