John Kay is one of Britain’s leading economists. His interests focus on the relationships between economics and business. His career has spanned academic work and think tanks, business schools, company directorships, consultancies and investment companies. For more details of John’s biography, see the About section.
John Kay chaired the Review of UK Equity Markets and Long-Term Decision-Making which reported to the Secretary of State for Business, Innovation and Skills on the 23rd July 2012. He is a visiting Professor of Economics at the London School of Economics, a Fellow of St John’s College, Oxford. He is a Fellow of the British Academy, a Fellow of the Royal Society of Edinburgh. He is a director of several public companies and contributes a weekly column to the Financial Times. He is the author of many books, including The Truth about Markets (2003) and The Long and the Short of It: finance and investment for normally intelligent people who are not in the industry (2009) and his latest book, Obliquity was published by Profile Books in March 2010. Some of his most influential, recent work has been on banking regulation, and you can read about his vision for the sector in his 2009 essay, Narrow Banking.
Obliquity – Why our goals are best achieved indirectly
Now available as paperback!
Order your copy in John’s Bookshop.
If you want to go in one direction, the best route may involve going in another. This is the concept of ‘obliquity’: paradoxical as it sounds, many goals are more likely to be achieved when pursued indirectly. Whether overcoming geographical obstacles, winning decisive battles or meeting sales targets, history shows that oblique approaches are the most successful, especially in difficult terrain.
Obliquity is necessary because we live in an world of uncertainty and complexity; the problems we encounter aren’t always clear – and we often can’t pinpoint what our goals are anyway; circumstances change; people change – and are infuriatingly hard to predict; and direct approaches are often arrogant and unimaginative.
Obliquity was published by Profile Books as hardback in March 2010 and paperback in February 2011. For dates of John’s book signings and talks check the NEWS section.
“John Kay is an admirable debunker of myths and false beliefs –he can see substantial things others don’t. Read this book.”
Nassim N Taleb, Author of The Black Swan
“Read this book for pleasure, and indirectly – obliquely – you will gain invaluable insights into how successful decisions are made.”
Mervyn King, Governor of the Bank of England
17 December 2014, Financial Times
The belief that an aggregate of casual opinions provides a better process of value discovery than a flow of informed judgment through close engagement by investors, is an article of faith rather than a matter of empirical evidence.
10 December 2014, Financial Times
The ability of young people today to benefit from future house price appreciation depends in large part on their parents’ capacity to pass on the benefits of past house price appreciation to them. But that injustice is different in nature and cause from the inequality that concerns Occupy Wall Street, or the purchasers of Prof Piketty’s book.
03 December 2014, Financial Times
There is only one way in which the Scottish government’s new freedom to vary income tax can be exercised, and that is to raise it. That was not what the supporters of more devolution had in mind when they asked for additional powers.
26 November 2014, Financial Times
The days when economic power was acquired by inheriting the mill are long gone. Mr Buffett began his business career as a mill owner, but closed the mills and went into insurance. That is the reality of capital in modern economics.