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London
Tuesday, October 17, 2017

Market-based capital allocation does not support long-term decision-making

A transcript of John's presentation at the Public Hearing on Sustainable Finance at the European Commission on July 18th 2017.
British Tax System

Tax reforms happen better by stealth

It is 40 years since Mervyn King and I wrote a book together on The British Tax System, advocating comprehensive tax reform. Much of what we advocated has come to pass, but more by stealth than design.

Asset managers should compete on philosophy and style

The asset management sector in the UK is very competitive, but not very price competitive. This apparent paradox runs through the FCA’s report on asset management, but is never adequately recognised or explained. But only by acknowledging it can regulators help to create an industry which works better for investors and for the economy as a whole.

Technological change and the future of financial intermediation

John's presentation at the 44th Economics Conference of the Austrian central bank (ONB).

Forthcoming book explains why not to trust opinion polls

This is an extract from work in progress by John Kay and Mervyn King, on the importance of radical uncertainty and the misuse of probabilities. The book is provisionally entitled “Through a Glass Darkly" More to come!

Ugly descriptions of the the market economy undermine its real successes

The Labour and Conservative party election manifestos mark a retreat from the economic liberalism of the years from 1980 to 2015. There is a risk that the real achievements in removing obstacles to productivity and innovation will be steadily eroded.
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Business is not politics

Why do business leaders often fail in applying their skills to politics?

The basics of basic income

Basic income schemes cannot work and distract from sensible, feasible and necessary welfare reforms.

Economic Ideas You Should Forget: The Axioms of Revealed Preference

John's contribution to this book, published by Springer in March 2017.
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Gambling is a feature of capitalism – not a bug

In a modern capitalist economy, almost everything is for sale, including risks. Markets can transfer known risks to people or institutions who can handle...
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