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Economists are not impressed by Piketty’s views on inequality

The financial crisis has undoubtedly created a demand in popular culture for works which portray capitalism in a bad light, such as the recent best seller by Thomas Piketty.  Piketty’s writing has gathered increasing attention from economists, and his arguments do not really bear scrutiny. The focus

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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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Herr Doktor Professor Sinn and Disciplining the Mediterranean Countries

The Polish banking and financial elite gathered last week at a conference in the Baltic seaside resort of Sopot.  The proceedings were enlivened by the presence on the platform of Jacek Rostowski, one of the two senior Polish politicians caught on tape badmouthing, in very colourful terms,

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Is Wayne Rooney an expert in rational economic theory?

So, farewell then England!  Yet another failure by our boys at the highest levels of the game. Despite their stupendous salaries, they seem once again to be unable to exhibit the necessary skills, a point which seems to exercise many fans of the game.  Tens of thousands,

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“Ricardo, Ricardo, that wonderful guy”: innovation, job losses and living standards

Here is your starter for ten. What do the Uber app and David Ricardo have in common? Ricardo, I hear you ask. Scarcely known outside academic economics, he ranks equal with Adam Smith and Keynes as the greatest ever British economist. His classic Principles of Political Economy

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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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Exciting times at the Office for National Statistics: the value of drugs and prostitution

The Office for National Statistics (ONS) has just increased the size of the British economy by nearly £10 billion, a figure equivalent to around 0.7 per cent of the economy as a whole. George Osborne has not waved a magic wand. We have not suddenly become more

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Obama allies lead the way on a positive approach to climate change

The fracking debate continues apace, with the announcement by the British Geological Survey that there are over 4 billion barrels of oil in the shale rocks of the South of England. The government has proposed new rules of access to land in order to speed up the

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Two cheers for the global recovery, but doubts remain in the Euro zone

Worries are growing about some of the countries in the Euro zone slipping back into double dip recession. By convention, a recession is when national output (GDP) has fallen for two successive quarters. But this is far from being news. In a substantial number of economies, output

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Forget the hype. Capitalism has made the world a more equal place

Metropolitan liberals love to be able to criticise Western society. Recently, their lives have been brightened by the extensive discussion on the rise in inequality since the 1970s, especially in the Anglo-Saxon economies. There is a danger that this essentially anti-capitalist narrative will come to dominate the

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