Lockdown 2.0: A creative destruction revolution, or the death knell of innovation?

So Boris Johnson has failed to follow his own government’s guidelines on cost-benefit appraisal. Study after study by economists show that the costs of lockdown far exceed the benefits. The NHS — the “envy of the world” — has conspicuously failed to develop sufficient capacity to deal with a second wave, despite having had months […]

Anti-capitalists in UK universities need a refresher course in the perils of socialism

The great Harvard economist Joseph Schumpeter, writing in the 1940s, predicted the eventual demise of capitalism. He did not want this to happen. But he envisaged that the “intellectual class” would eventually develop values which were hostile to free markets and private property. Schumpeter’s definition of “intellectuals” was very wide. He meant people in a […]