Archive for the Paul Ormerod Category

Why we are much better off than the official statistics say

Why we are much better off than the official statistics say

The oldest surviving map of Britain was created in Canterbury a thousand years ago. Our ancestors had a good idea of how to get around. The country is depicted in its familiar shape. Understanding of the world outside Western Europe remained sketchy for centuries.  The phrase ‘here

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The IMF is in trouble – and not just due to its poor forecasts

The IMF is in trouble - and not just due to its poor forecasts

The International Monetary Fund (IMF) has played a prominent role in world financial affairs in the post-Second World War period. In the 1950s and 1960s, its main purpose was to support the system of fixed exchange rates. Since then its activities have evolved to embrace developing economies

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Ticket prices, fairness and behavioural economics

Who wants to watch the Scousers play football? Certainly no Mancunian, and probably no self-respecting Londoner either. Yet demand for tickets at Anfield, the home of Liverpool FC, is high. Indeed, there is excess demand: more people want to watch the games than there is room for

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Why Julian Assange shows that only intelligent machines can be truly rational

Is Julian Assange rational? There are no prizes for guessing the responses of most City A.M. readers to this question. He faces questioning over allegations (which he denies) in Sweden, and he claims that America will try to extradite him and put him in prison for a

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Are the markets telling the truth?

The opening month of 2016 has been marked by sharp falls in asset prices, not just in financial markets but in commodities such as oil.  The conventional wisdom is that the markets form a rational assessment of future prospects for the economy, and set prices accordingly.  So

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China is drowning in private sector debt: there’s no telling how this one will end

The eyes of the financial and economics worlds are now fixed on China, with focus predominantly on Chinese stock markets and the country’s GDP figures.  A fascinating perspective was provided last week in the leafy borough of Kingston upon Thames.  The university has recruited the Australian Steve Keen

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Science does not always make sense

The story of the week for many people was the new alcohol guidelines issued by the UK’s chief medical officers.  In 1995, the recommended weekly upper limit for men was set at 21 units, or around eight pints.  This has now been slashed to only 14 units.

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No more whingeing, please. The recovery is solid.

Last month saw some very positive economic news. The US Federal Reserve raised interest rates for the first time in over seven years.  The Bank of England reported on the major stress test of UK banks which it launched in March 2015.  It concluded that “the banking

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A Christmas competition with a difference…

… and the chance to win a bottle of champagne. For the prolonged holiday break, a quiz is appropriate. But one with a difference: not just questions, but comments to go with them. A prize of a bottle of champagne to the best answers – just email

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