China’s recently closed “third plenum,” held in July 2024, stated that “national security is an important foundation for China’s modernization.” … Continue reading “The Economics of China’s National Security Policy”

There are 680 very happy steel workers in Sheffield right now. The nationalisation of Sheffield Forgemasters, with the promise of … Continue reading “Why are taxpayers being forced to bail out billion-pound defence contractors?”

The government’s new state aid system, which is intended to ‘support UK jobs and businesses, boost the economy and strengthen … Continue reading “The new state aid system is ad-hoc Mazzucatoism”

Free-market liberals will have shuddered at the news that European Commission officials have drawn up far-reaching plans for a new … Continue reading “The problem with European champions”

Mariana Mazzucato is a professor of economics at University College London. She came to prominence following the publication of her … Continue reading “‘The Value of Everything’ adds up to nothing”

“The starting point of any industrial strategy must be recognition that government impedes growth more than it facilitates it,” said … Continue reading “State intervention is more of a hindrance than a help to growth”

The Government’s industrial strategy, released yesterday, is a paean to received wisdom about what the future economy will look like. … Continue reading “The government’s new ‘industrial strategy’ will fail”

Since the Brexit vote, it has become the conventional wisdom that there is a backlash against globalisation by the left-behind. … Continue reading “The case against “rebalancing the economy””

George Osborne was Chancellor of the Exchequer from 2010 until July 2016. Now he is, among other things, editor of … Continue reading “George Osborne does not have a clue what a ‘free market’ is”