Archive for the Paul Ormerod Category

This year’s Nobel economics laureates have made the world a better place

This year’s Nobel economics laureates have made the world a better place

This year’s Nobel Prize in economics, announced on Monday, was a ray of sunshine amid the prevailing media gloom. The Prize was awarded for the work the new laureates had done on the alleviation of global poverty. This is one reason to be cheerful about it. Another

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Forget ‘reparations’, scrapping subsidies is the way to help get Wales back on its feet

Forget ‘reparations’, scrapping subsidies is the way to help get Wales back on its feet

Get ready to put your hands deep into your pockets for the boyos and girlos of the Welsh Valleys.  Adam Price, the leader of Plaid Cymru, called last week for the UK to pay “reparations” to Wales for the crime of reducing the country to poverty. For

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What kind of person crosses the Nevada desert to investigate UFO conspiracies?

What kind of person crosses the Nevada desert to investigate UFO conspiracies?

Area 51 is a mysterious place. Located deep in the Nevada desert, it is home to highly classified US military operations. Rumours abound that it harbours secrets about extraterrestrial life. In June, a podcaster released an interview with someone who claims to have studied flying saucers in

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In such volatile times, the safest assets aren’t necessarily what investors think

In such volatile times, the safest assets aren’t necessarily what investors think

Given the climate of intense uncertainty, the FTSE index remains remarkably resilient. It currently sits almost bang in the middle of the 7,000-7,600 range, where it has been since the beginning of January 2017. Brexit does not seem to trouble share prices. Nor do the threats by

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Britain’s car industry could weather a storm of tariffs better than you’d think

Britain’s car industry could weather a storm of tariffs better than you’d think

The latest American Economic Review contains a timely paper. Keith Head and Thierry Mayer, at the University of British Columbia and the Banque de France respectively, estimate the consequences of changes in tariff and non-tariff barriers to the car industry. They look at both US-led protectionism and

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Watch out fiscal conservatives – the mood has shifted and the spending taps are on

Watch out fiscal conservatives – the mood has shifted and the spending taps are on

The Autumn Spending Review announced by the chancellor Sajid Javid barely raised a ripple last week. Yet the increase planned in 2020/21 for what the Treasury calls “day-to-day departmental spending” is the highest for 15 years, no less than 4.1 per cent in real terms. This spending

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Economic theory can offer a lesson to struggling football clubs

Economic theory can offer a lesson to struggling football clubs

The expulsion of Bury FC from the English Football League last week continues to generate a huge amount of sound and fury. Regardless of the apparently dodgy nature of some of Bury’s transactions, the simple fact is that the club overspent massively in order to gain promotion

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Supply and demand at work, or just good bargaining? The reality behind CEO pay

Supply and demand at work, or just good bargaining? The reality behind CEO pay

A report published by Deloitte a couple of weeks ago will have enhanced the feeling of holiday wellbeing for many people. The median annual pay for bosses of FTSE 100 companies fell in 2018 to £3.4m, compared to £4m in 2017. This is the lowest level since

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Stamp duty contortions and eco-warriors with private jets? Welcome to silly season

Stamp duty contortions and eco-warriors with private jets? Welcome to silly season

August is traditionally the silly season. Brexit makes this year slightly different, of course, but it is good to see a fine British tradition still being preserved. Silly stories abound. Sajid Javid was linked (erroneously, he now claims) with the idea of fixing the housing market by making

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What was behind Friday’s National Grid outage? Network theory, not conspiracy

What was behind Friday’s National Grid outage? Network theory, not conspiracy

National Grid is getting a kicking in the aftermath of last Friday’s electricity blackout. Potential explanations swirl around both social and mainstream media. The system cannot cope with too much wind-generated electricity. The Russians hacked into the computers. A puzzling aspect is that the initial shock to

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