When compared to any other point in history the world, we are astonishingly rich. Thanks to the interlinked miracles of … Continue reading “What’s the point of foreign aid?”

‘Dear chief secretary, I’m afraid to tell you there’s no money left’. That twelve-word note left in the Treasury from … Continue reading “Pensioner bonds policy is naked political opportunism”

One of the insights of the Public Choice School of economics is that voting groups with more homogenous interests will … Continue reading “Granny bonds: Politicians must stop buying votes with subsidies for the old and rich”

Many associate markets with self-interest and greed whilst associating politics with other-regarding, publicly-interested behaviour. Perhaps nowhere is this view more … Continue reading “The politics of greed”

One of the most important controversies generated by the Scottish independence debate relates to the continuation (or not) of the … Continue reading “Scottish independence and the sterling-zone controversy”

Gary Becker was one of the giants of economics. During his lifetime his contribution to the profession remained unsurpassed – … Continue reading “Gary Becker showed us the power of economics”

Telegraph blogger Tom Chivers has no qualms that ‘the three “mainstream” parties… are all essentially the same.’ As he writes, ‘The mainstream … Continue reading “Median voter theorem: why mainstream parties adopt similar policies”

James Buchanan pointed out that the problem with much policy-related economics is that it assumes one type of human person … Continue reading “How many types of human being? – Mid Staffs and public choice”

An important component of the argument of F. A. Hayek’s The Road to Serfdom is that those people likely to … Continue reading “Why do the worst get on top? An answer from Public Choice”