John Kay

The financial crisis left a few individuals responsible for it very rich while its consequences made millions not responsible for it much poorer. If this involves no crime, then we have failed to define or prosecute crime appropriately.

For a time, the coalition government seemed willing to let figures tell their own story rather than one written by their political advisers; but that time seems to have passed.

If trust and confidence in financial intermediation are to be re-established, principles of loyalty and prudence are a prerequisite.

There are many similarities between this response to the press crisis of 2011 and the reactions to the financial crisis of 2008. In both cases the demand for better processes and new rules largely missed the point.

Ireland accounts for a share of global profit disproportionate to the size of the Irish economy. Not because business in Ireland is particularly successful but because reporting profits in Ireland is particularly attractive.

What would an independent Scotland actually be like? The only sensible answer is that no one really knows.

Some complexity is unavoidable, but much of the complexity consumers experience is not.

Commercial decisions often reflect policy-based evidence, not evidence-based policy. Doing the deal is what matters; justification comes afterwards.

Goodhart suggested that any measure adopted as a target loses the information content that appeared to make it relevant. People change their behaviour to meet the target.

The argument that we need the best and latest is powerful in political decision making, even among people who would never behave that way in their everyday lives.