Archive for the Government Spending Category

Prospect theory: will the Greeks keep a hold of Nurse?

Will 2015 be the year in which fantasy economics in Europe is finally put to the test? Somewhat to the surprise of many commentators, in December the Greek political class failed to elect a new president even after three attempts. Parliament has now been dissolved and an

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Corporate tax is getting easier to avoid. Time to abolish it.

Corporate tax avoidance is once again prominent in the news. When Jean-Claude Juncker, the new European Commission president, was prime minister of Luxembourg, the country seems to have operated as a vast tax shelter. Leaked documents have revealed that special tax arrangements were agreed by his country

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Is Ed Miliband secretly a Rational Economic Person?

Recently, we have seen a very effective piece of forward guidance.  Ed Miliband’s statement that Labour would bring in a mansion tax on properties worth more than £2 million has had a dramatic impact.  The market for expensive properties in London has more or less ground to

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All we are saying: give capitalism a chance

Is there a secret Leninist cell operating at a high level in the European Commission’s headquarters in Brussels?  One which is dedicated to the overthrow of the capitalist structures of the European Union?  The evidence from this past week is certainly consistent with this hypothesis.  The demand

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More ideas like HS3 are needed to solve our regional problems

In London and much of the South East, the recovery has been well under way for a considerable time.  House prices boom and restaurants are packed.  The economic data for the UK as a whole looks just as encouraging, with employment being at its highest ever level.

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Psychology, not hard line maths, tells us why Osborne’s strategy is working

So, International Monetary Fund, wrong again! At the end of last week, the IMF abandoned its criticism of the UK government’s economic strategy. Christine Lagarde, the IMF chief, said her organisation had ‘underestimated’ the strength of the recovery in Britain. The IMF now believes that the UK

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New ideas are needed in economics, but not the tired old statist ones

The annual Institute for New Economic Thinking (INET) conference was held in Toronto earlier this month. INET was created by George Soros in the autumn of 2009 in response to the economic crisis. Mainstream economics bears a heavy responsibility for creating the intellectual climate prior to the

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The ‘Gentleman in Whitehall’ does not know best

The government is relaxed about people cashing in their pension schemes to buy a Lamborghini. But the left-leaning liberal commentariat is certainly not. Abuse has been heaped onto George Osborne’s Budget measure of removing the requirement for people to buy an annuity. The main thrust of the

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Nick Bosanquet in the Financial Times: projections for 2014

Each New Year the Financial Times surveys a select group of policymakers, academics and commentators to gauge views on some important questions for the economy for the coming year. Volterra associate Nick Bosanquet took part in the survey again in 2014. Take a look at Nick’s responses

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The recovery is well grounded – except in France

The coming year looks like it will be a good one. At the start of each of the past five years, the economic scales have been tilted down, and the challenge has been to look for factors which might have tipped them back up. This year, the

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