I was given a copy of John Kenneth Galbraith’s 1975 treatise which goes by the name of Money: Whence it … Continue reading “Debts, deficits and slow growth”

British Chancellor George Osborne and United Kingdom Prime Minister David Cameron received a timely reminder today that their tough-sounding rhetoric … Continue reading “Freeze UK public spending for five years to achieve growth”

One estimate (from the Olympic Delivery Authority) for the overall ‘Public Sector Funding Package’ for the London 2012 Olympic Games, placed it … Continue reading “London 2012: gold, but not growth”

Relying on growth was always going to be a risky strategy. Yet a healthy recovery, with robust GDP increases of … Continue reading “Cut more, regulate less”

Recent US growth figures seem to have re-energised naive Keynesians who, lacking any real evidence or credible prior theory for … Continue reading “From naivety to sophistry – Keynesian arguments on both sides of the Atlantic”

The UK has been put on a credit-rating downgrade watch. This is not surprising, but one wonders whether Moody’s is … Continue reading “This medium-termist government needs to think long-term – now”

A lot of people are looking to economic history for help in understanding the current economic situation. Most attention is … Continue reading “Lessons from the ‘Long Depression’”

Thirty years ago, the economics profession was dominated by naive Keynesians. The author of the standard textbook at the time, … Continue reading “No Case for Plan B”

Since embarking on a programme of market liberalisation in 1979, China has experienced rapid economic growth. Nevertheless, the Chinese economy … Continue reading “The China Model: Is it a Golden Formula?”