Unintended consequences and perverse incentives from political choices
Latest Blog Entries
While writing a blog piece on the Establishment, I wanted to include statistics for the number of MPs, civil servants etc. who graduated from Oxbridge, Russell Group or any university, and how the subjects they studied compared with the…
07 Apr 2020
Lots of comments about how exchange rates and equity-price movements show that the UK is (a) doomed or (b) well-placed post-Brexit. Movements and values over a few days tell us nothing except the climate of hope or fear in those few days…
11 Jul 2016
The worst form of government
An anti-democratic mini-meme developed amongst some of my liberal friends in the build-up to the EU referendum. For some people, democracy is a virtue and governance structures that provide more direct democratic accountability are…
09 Jul 2016
Letter to my employees about the Brexit referendum
All, The CBI think that bosses should inform employees about Brexit. http://news.sky.com/story/1697273/bosses-told-to-warn-workers-of-brexit-risks This patronising suggestion is typical of the Confederation of Big Business, and of a Remain…
20 May 2016
Is Ed Balls a knave or a fool? On Newsnight, he just compared eliminating the deficit in four years to paying down a mortgage in short order. Let's consider the form that analogy should take if it were to reflect reality. Having engaged in…
16 Mar 2011
Promote industry. Bag a banker.
Boris Johnson is quoted in MoneyWeek as having said to Management Today: "To the banker bashers I say, what's your economic model? We can't ignore and hate the bankers. What would that achieve? Show me how reducing financial services boosts…
17 Jan 2011
How small of all that human hearts endure That part which laws or kings can cause or cure!
And in order to refloat the economy whose functioning has been so largely impaired by past interventions, those same critics of capitalism clamor for more interventions, more planning, and hence a further emasculation of our economy. It is as though one poured sand into an engine and then hoped to start it up again by pouring in more sand.
Bureaucracy is not an obstacle to democracy but an inevitable complement to it.