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Economic Forecasting – Models or Markets?

7 May 1977
Research

Economic Forecasting – Models or Markets?

James B. Ramsey
7 May 1977

The severe limitations of macro-economic policy

Economists and econometricians cannot ‘foresee’ the future. They have no theory about, and therefore cannot predict, ‘exogenous’ developments in the … Continue reading “Economic Forecasting – Models or Markets?”
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Poverty before Politics

16 April 1977
Research

Poverty before Politics

Colin Clark
16 April 1977

How welfare benefits undermine work incentives

Social security benefits now discourage people from working. Indeed it is surprising that ‘voluntary’ unemployment is not more prevalent. The … Continue reading “Poverty before Politics”
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Over-taxation by Inflation

30 March 1977
Research

Over-taxation by Inflation

David R. Morgan
30 March 1977

How the government exploits inflation to hide tax increases

In Britain inflation has been accompanied by inadequate adjustments in tax allowances and bands so that real rates of taxation … Continue reading “Over-taxation by Inflation”
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From Galbraith to Economic Freedom

27 January 1977
Research

From Galbraith to Economic Freedom

Milton Friedman
27 January 1977

Free-market critique of The Affluent Society and other works

No scientific studies have validated Galbraith’s analysis: it yields no predictions about the behaviour of enterprise, industry or of the … Continue reading “From Galbraith to Economic Freedom”
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Pricing or Taxing?

9 October 1976
Research

Pricing or Taxing?

Ralph Harris and Arthur Seldon
9 October 1976

A better way of financing local government services

Local government services are under-financed because people will not pay as much in taxes as they will in prices linked … Continue reading “Pricing or Taxing?”
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Denationalisation of Money

10 September 1976
Research

Denationalisation of Money

F. A. Hayek
10 September 1976

The case for competition in currency

The government monopoly of money must be abolished to stop the recurring bouts of acute inflation and deflation that have … Continue reading “Denationalisation of Money”
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The Vote Motive

25 August 1976
Research

The Vote Motive

Gordon Tullock
25 August 1976

Classic introduction to public choice theory by one of the pioneers in the field

The economics of politics applies the techniques of economic analysis (monopoly, competition, information costs, etc.) to political and bureaucratic behaviour. … Continue reading “The Vote Motive”
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Gold or Paper?

10 July 1976
Research

Gold or Paper?

E. Victor Morgan and Ann D. Morgan
10 July 1976

No government has maintained the value of its currency without external discipline

Many governments have issued paper money backed only by their own authority; all the major countries are doing this now; … Continue reading “Gold or Paper?”
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Too Much Money…?

7 May 1976
Research

Too Much Money…?

Gordon Pepper and Geoffrey Wood
7 May 1976

The relationship between the money supply and inflation

It is essential to understand the reasons for and the pressures behind excessive monetary growth if the money supply is … Continue reading “Too Much Money…?”
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