Classical liberals claim that theories of justice must be judged by their practical capacity to facilitate positive sum games in … Continue reading “Car Insurance and the Arbitrary Quality of Egalitarian Justice”

Events in the Middle East and concern over the likely impact of democratic change in the region on the prospects … Continue reading “The Invisible Hand of Peace”

European commentators on US healthcare are often misguided in their description of the American system as a ‘free market’ model … Continue reading “The Care of the Elderly Under Socialism”

Ronald Coase is one of my favourite living economists (he is now 100 years old). His work on the significance … Continue reading “Ronald Coase: On the Market for Goods and the Market for Ideas”

I tune in to Fox News occasionally to get some relief from the constant left of centre bias offered by … Continue reading “Fox News, Sweden and the Left”

Joseph Stiglitz is, quite rightly in my view, one of the most respected economists of his generation. Whatever one thinks … Continue reading “Joseph Stiglitz: wrong on housing and wrong on China”

The recent Cancun climate change conference attracted much less media attention than last year’s event in Copenhagen. Green activists and … Continue reading “The mirage of climate justice”

Two of my posts earlier this month (here and here) focused on the institutional implications of limited rationality. My claim … Continue reading “Bounded rationality, exit and social justice”

Dr Mark Pennington provides an introduction to his latest book, Robust Political Economy