The Benefits of Choice: the Battle Never Ends

Do consumer choice and competition between suppliers improve the quality of outcomes for consumers? The answer might seem so obvious to many readers that it is hardly worth asking. But a powerful strand of political opinion is building up to an attack on the concept. Mary Creagh, the new Labour shadow Transport Secretary said last […]

Why teachers are just like bankers

The current highly emotional debate about GCSE grades is not very enlightening.  But what has happened tells us a lot about how incentives matter, how they affect outcomes.  And at the same time, it shows that unless a proper set of social norms is in place, incentives can have unanticipated, perverse effects. Bankers and teachers […]