References to ‘GDP’ proliferate in the business press and news. Perhaps it’s worth considering what it means. The letters stand for ‘Gross Domestic Product’, intending to signify the entire output of the economy of a country: the outputs [more…]
As regular readers know, I have been compiling the essays in my “Economic Perspectives” series with a view to publishing the collection as a single work, which should come to fruition in a month or [more…]
I have been diverted from writing further essays in the Economic Perspectives series as I am assembling the existing essays in a book designed to demystify the science of economics. But occasionally the temptation to [more…]
The Department for Work & Pensions has recntly disclosed that six million adults were on out-of-work benefits just before Britain’s July election – the highest in 30 years. The recent tax rises that, both directly [more…]
Each of the sections in this essay warrants a whole chapter, but this abbreviated format should capture the essential features that prevail throughout the West today. The immigration question 1 – One of the key [more…]
There’s an old Jewish joke about the elderly family patriarch whose grief-stricken family is tearfully assembled around his deathbed to pay their last respects . “Is Taubele there?” he mutters; “Yes, Papa, I’m here” comes [more…]
Columnists write glibly about the “cost-of-living crisis” as if it were an affliction visited upon our unsuspecting community and that, as usual, it is the duty of government to cure it. The fact that the [more…]
Over the years, my essays have charted the government’s descent from an ignorance of economic principles, all the way to sheer insanity. And there can be no reprieve while the public mind festers in the [more…]
As usual, the meaningless minutiae of tax-fiddling in last week’s budget stole the headlines and obscured what’s really going on. It would help if the linguistics were clearer: a tax “cut” should simply refer to [more…]
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