ARTICLES
On USS with Mervyn King
For many years, much of the British workforce enjoyed lifetime employment with a secure pension, based on final salary and underpinned ...
Prospect
Between 1920 and 1950, a debate took place which defined the future of economics in the second half of the 20th century. The leading pr...
Review of Cass Sunstein: The Cost-Benefit Revolution
Is economic cost benefit analysis a key tool of evidence-based policy, which has transformed the quality of public decision making? Or ...
The Mechanisms of Regulatory Capture
It is a remarkable fact, but few businesses ever seem to fail because of excessive leverage, misconceived strategies, or inability to m...
The Mechanisms of Regulatory Capture
Begin with some paradoxes. About five years ago, I undertook a review of the UK equity markets for the British government. I had to lis...
Hybrid Organisations
Hybrid Organisations
What do Channel 4 television, Companies House, the Post Office, the Royal Bank of Scotland, the Royal Mint and ...
Review of Jesse Norman on Adam Smith
No-one is more widely quoted by people who have not read his work. Even people who have never visited a library, far less opened a copy...
Robust and Resilient Finance
Modern banks - and most other financial institutions - trade in securities, and the growth of such trade is the main explanation of the...
Engineering vs Economics
Here is an engineer working for NASA describing his approach:
“I try to predict what happens when a spacecraft enters the atmosphere...
Moving beyond Capitalism
I wish we would stop using the word Capitalism.
It is a 19th-century term, derived from 19th-century economic philosophy. But today ...
The Concept of the Corporation
Over the past fifty years or so, the economic theory of the firm has been based on a model of corporate activity which perceives the fi...
Do we need equity markets in the twenty first century?
The equity markets with which we are familiar came into being in the 19th century to finance railways and railroads. Railways and...