Articles

GDP is flawed – just not the way most people think

It is a poor criticism of a thermometer that it does not tell us how comfortable we feel.

English law cannot stop Scots being sterling squatters

In today’s world of global business and finance, people make agreements in whatever currency they like and under whatever legal system they choose.

The welfare cap replaces political judgment with spin

Whatever initial misconceptions spin doctors may promote, reality will out.

Regulators will get the blame for the stupidity of crowds

Just as dammed water finds new channels of escape, crowdfunding seems to provide a way around the blockage.

A stealthy step towards abolishing income tax

The man who “laboureth much, and sparing the fruits of his labour, consumeth little” should not, Hobbes argued, pay more “than he that liveth idlely, getteth little, and spendeth all he gets”.

The Co-op’s mistake was to detach responsibility from power

The test of an organisational structure is not how it handles success but how it copes when things go wrong.

Economic abstractions conceal the true contours of human life

No economic model can describe “the world as it really is”.

The startling human progress that economists fail to see

The most important source of economic advance comes not from doing the same things better, but from achieving the same objective in a completely different way.

Currency unknowns weigh on an independent Scotland

Whatever Mr Salmond may say, there has to be a plan B.

Philistines may carp but scientists should reach for the sky

Anthropology helps us understand the world, in ways that are helpful whether we are talking about the internal contradictions of communism or the pathologies of financial crises.