Market failures are not simply outcomes you do not like. They are institutional inefficiencies such as externalities (where a proportion … Continue reading “When market failure attracts rent-seekers”

A long time ago – when people were more worried about global cooling than warming, but were just as worried … Continue reading “The market as a learning process”

The gains in economic activity derived from free trade are well established. Adam Smith and David Ricardo, who respectively discussed … Continue reading “The importance of free trade – and how to derive its full benefits”

Will the view from the next hill be worth the effort of climbing it? Should you spend time learning the … Continue reading “Public choice theory – the economics of government failure”

Almost two centuries ago, an angry man sat down to write an essay expressing deeply-held thoughts and prejudices. His subject … Continue reading “Review: ‘Adam Smith: What He Thought, and Why It Matters’ by Jesse Norman”

The Solicitors Regulation Authority (SRA) published figures this week highlighting efforts to increase the numbers of female and minority ethnic … Continue reading “Most occupational licensing is a racket that exploits consumers”

It appears to many that Greece is a lost cause and a country that can maybe only survive outside the … Continue reading “Greece – the conundrum of currency and institutions (Part 1)”

It is unclear that the ‘support and assurances’ the government has supposedly given to Nissan (which the company said were … Continue reading “8 thoughts on Nissan, ‘support and assurances’ and industrial strategy”

As Uber, an app which connects riders with private drivers, has spread throughout Europe, it has been met with backlash … Continue reading “Does regulation serve the public interest?”