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Friday, May 25, 2018

Adam Smith, Misanthrope

Adam Smith would, as is widely recognised, have been sceptical about the current vogue for ‘industrial strategy’: ‘The statesman who should attempt to direct private...

Theories of the Firm

Introduction The corporation is the most important of modern economic institutions. The nineteenth century saw the emergence of business organisations with many employees and differing...

Embrace radical uncertainty

Embrace radical uncertainty Between 1920 and 1950, a debate took place which defined the future of economics in the second half of the 20th century....

Equity markets are thriving but are they relevant?

The equity markets with which we are familiar came into being in the 19th century to finance railways and railroads. Railways and railroads were...

Bitcoin: Boon or Bubble?

Boon or Bubble? Is Bitcoin a bubble, a scam, a Ponzi scheme? Or a transformational innovation which will change forever the functioning of the global...

A decade since the nationalisation of Northern Rock

10 years on, John reflects on the nationalisation of Northern Rock for the British Academy blog.

Risk, the retail investor and disastrous new rules

I am a board director of Scottish Mortgage Investment Trust (SMIT), a £6bn investment fund based in Edinburgh. You can receive material about the...

I Kid you not, new European rules rely on a bent coin

European regulations which came into force at the start of the year require many providers of Prips (packaged retail investment products) to produce a...

UK needs to expand house building

Tackling the crisis requires rebalancing supply and demand with more new homes

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.