Posts Tagged British Economy

Don’t believe the myths: Capitalism has performed well since the financial crisis

On May 8, 2017   /   Blog, Debt, Economic theory, Financial Crisis, GDP, General, Macro Economics, Paul Ormerod, Recession   /   Leave a comment
Don’t believe the myths: Capitalism has performed well since the financial crisis

Ten years ago, the financial crisis began to grip the Western economies.  During the course of 2007, GDP growth slowed markedly everywhere. By the end of 2008, output was in free fall. A key theme in economic commentary is the sluggishness of the subsequent recovery of the

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

On June 5, 2014   /   Blog, Economic theory, GDP, Markets, Paul Ormerod   /   Leave a comment

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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