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…]
As the Brexit debate drags on, there seems to be much confusion about tariffs. Neither politicians nor MSM journalists seem to understand the basic concepts. This is natural as politicians, bureaucrats & journalists made a [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…]
Most of the world takes it for granted that central banks are necessary for the smooth conduct of trade, both foreign and domestic. Nothing could be further from the truth. Let’s be clear. Central banks [more…]
One of the most commonly cited arguments initially against Brexit, and now against a no-deal scenario, is the towering threat of businesses leaving the UK. A great many campaigners and leading figures of the Remain [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…]
I worked for Sweda Litton designing a POS (Point Of Sale) system for Boots The Chemists. The relevance for my future computing work is that I invented a table driven methodology for controlling POS terminals. [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…]
I started working with computers when computers started. Not quite but my first line of code was written in 1969 and loaded onto an Elliott 905 computer at Elliott Automation, Borehamwood. My last line of [more…]
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