John McDonnell’s speech to the Labour Party conference contained a large number of commitments, some old and some new. Those … Continue reading “Verdict on John McDonnell’s labour market policies: each measure is bad individually; the package is worse than the sum of the parts”

The Labour Party wishes to restrict the pay of ‘fat cat’ executives. This is a policy which is apparently highly … Continue reading “Beware the lure of executive pay caps”

Venezuela is “experiencing problems”, because the country has taken a “wrong turn”, Shadow Chancellor John McDonnell said on the Sunday … Continue reading “When did Venezuela take a “wrong turn”?”

Everyone objects to slavery. Employment should be voluntary. This liberal attitude towards labour does not extend to capital. A recent … Continue reading “Nationalisation misallocates capital – for the same reason that slavery misallocates labour”

Now we’ve finally learned what went wrong in Venezuela: it wasn’t real socialism. At the World Economic Forum summit in … Continue reading “Venezuela officially enters the not-REAL-socialism stage”

Daffyd Thomas, one of the most memorable characters in the ‘Little Britain’ series, is ‘the only gay in the village’. … Continue reading “Why I can’t be bothered to read Marx”