Every primer on economics cites the familiar factors of production, land, labour and capital, as prerequisites for productive activity. Sometimes entrepreneurship is added to represent the gifted brain who brings the other three together in [more…]
“When the tide goes out you discover who’s been swimming naked”. Thus spake the sage of Omaha, Warren Buffet. When government ministers are floundering, manifestly out of their depth, you know, despite all official protestations, [more…]
Those of us struggling to get a grip on Chancellor Sunak’s latest relief-measures should note the terminology. He seeks to revive the Covid-stricken economy with a series of tax “giveaways”. When anyone in government talks [more…]
As the spread of Covid begins to wane we should consider afresh whether, for example, a shopkeeper who travels to work to open his business is in fact acting irresponsibly. This comes, as ever, down [more…]
It is noticeable that the Covid-inspired devastation has brought out a sizeable crop of (apparently) sane economists who claim that we should stop worrying because it’s all OK, really. The Treasury should carry on printing [more…]
Lockdown rules have made extensive use of the word “essential” in relation to goods, services, journeys and jobs that may be exempted from lockdown strictures. It sounds like an objective standard, but interpreting it is [more…]
In his latest book (“The Body – a Guide for Occupants”) Bill Bryson highlights the limitations on what money can buy. He points out, for example, that America spends more per capita on healthcare than [more…]
The title of Kristian Niemitz’s latest book, “Socialism: The Failed Idea That Never Dies”“Socialism: The Failed Idea That Never Dies”, is easily explained by the current crisis. We are experiencing a re-emergence of a giveaway [more…]
It’s not quite like having to start the economy from scratch, but this lockdown-induced recession warrants some detached assessment. We are aware that viable businesses have been forced to close their doors – or keep [more…]
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