In a recent article in the Financial Times, Tim Harford retells a classic source of argument amongst economists: ‘Imagine that … Continue reading “What’s the right way to think about cost?”

In a must-read article for City AM, Andrew Lilico has taken aim at the ‘cranks’ who claim that orthodox economics … Continue reading “The paradox of prediction”

I don’t view today’s announcement by the Bank of England as being a major change in monetary policy. The inflation … Continue reading “Forward guidance takes monetary policy even further down the wrong track”

A recent article by Alex Hern at the New Statesman has argued that likening the UK economy to a credit … Continue reading “Has the credit card analogy been maxed out?”

In this month’s Standpoint magazine Tim Congdon has written a rich and insightful contribution to the debate about quantitative easing. … Continue reading “Monetarists’ blind spot on quantitative easing”

Last month the FT’s Martin Wolf asked a simple question, “Does Austrian economics understand financial crises better than other schools … Continue reading “What Austrian business cycle theory does and does not claim as true”

Last month the FT’s Martin Wolf asked a simple question, “Does Austrian economics understand financial crises better than other schools … Continue reading “What Austrian business cycle theory does and does not claim as true”

I was shocked but delighted to learn that Elinor Ostrom has won the 2009 Nobel Prize in economics. Elinor Ostrom defies … Continue reading “Ostrom on institutions: complex solutions can spontaneously emerge”

Recently in The Times Anatole Kaletsky attacked the “many financiers [that] have been calling… for a ‘market solution’ based on … Continue reading “Austrian economics vs Keynesianism and Kaletsky”