Archive for the Paul Ormerod Category

Government debt addiction means you can be sure of one thing: Stealth taxes will rise

Government debt addiction means you can be sure of one thing: Stealth taxes will rise

Elections create uncertainty. But we can be sure of one thing. Regardless of the result, during the course of the next Parliament, stealth taxes will rise. This week, we have a sharp rise in speeding fines. Even doing between 31 and 40mph in a 30mph zone can

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Why companies fail: Don’t look to economic textbooks to master dynamic capitalism

Why companies fail: Don’t look to economic textbooks to master dynamic capitalism

Is setting up a micro brewery a licence to print money? This month, a private equity company acquired 22 per cent of BrewDog for just over £200 million, netting a neat £100 million for the founders. Last year, the owners of Budweiser, AB InBev, bought Camden Town

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Britain’s debt dilemma: Not too high, not too low or the UK economy risks disaster

Britain’s debt dilemma: Not too high, not too low or the UK economy risks disaster

The Bank of England Financial Policy Committee (FPC) has signalled that it has become worried again about debt. Its specific focus is households.Consumer credit, for example, grew by 10 per cent during 2016, far faster than the economy as a whole. A lot of household debt is in

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Anti-growth Welsh leaders are denying their voters prosperity by opposing shale

Anti-growth Welsh leaders are denying their voters prosperity by opposing shale

Leading Welsh politicians seem to be getting ideas above their station. Fifty years ago, Labour held all but four of the Parliamentary seats, and had over 60 per cent of the vote. Now, the Conservatives are by a large margin the second party in terms of votes,

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Don’t fear robots taking your job – worry about them cutting your wages

Don’t fear robots taking your job – worry about them cutting your wages

Robots and artificial intelligence (AI) seem to be in the news all the time, and breakthroughs are announced regularly. Last year, it was an AI programme which beat the world champion at Go, a game immensely more complex than chess. Now, in the austere American journal the

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There’s substance to the Trump team’s trade critique of Germany and the Eurozone

There’s substance to the Trump team’s trade critique of Germany and the Eurozone

President Trump’s administration has made many criticisms of Germany. One of the more important was by his top trade advisor, Peter Nabarro. He accused the Germans of using a “grossly undervalued” Euro to “exploit” its trading relationship with America. The complaint that when the Euro was formed

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Need a reason to cut public sector pay and pensions? Look at Jeremy Corbyn

Need a reason to cut public sector pay and pensions? Look at Jeremy Corbyn

The shambles over the treatment of National Insurance has dominated the media’s reporting of the recent Budget. But only the previous week, Jeremy Corbyn made a complete horlicks of his tax return for the second year running. The Bearded One makes a saintly fuss over making his

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Kenneth Arrow proved economists needn’t be loud to make a difference

Kenneth Arrow proved economists needn’t be loud to make a difference

Does winning the Nobel Prize in economics cause longevity?  We might be forgiven for thinking so.  Thomas Schelling died last year aged 95.  The author of the famous textbook, Paul Samuelson, passed away at 94, whilst his colleague, Bob Solow, is still going strong at 92.  The

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Claims that a low tax, low regulation UK would be a disaster are rubbish

Claims that a low tax, low regulation UK would be a disaster are rubbish

Dame Minouche Shafik, Deputy Governor of the Bank of England, is leaving to become Director of the London School of Economics.  Last weekend, she gave her final interview wearing her Bank hat. Shafik issued what was described in the media as a “thinly veiled warning” to the

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Blame restrictions on the supply of land for new homes for rising wealth inequality

Blame restrictions on the supply of land for new homes for rising wealth inequality

Official data released last week on London house price increases in 2016 generated a lot of interest.  Given that housing represents by far the most important component of wealth for most people, it is not surprising that stories like this are read avidly. There is a feeling

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