Relativism rules
Seemingly conflicting theories about economics and business may in fact just illustrate different aspects of an issue. It is often pointless to look for a single explanation of a successful business operation or economic behaviour in general. The post-modernist idea that scientific truths are not objective facts captures something very important about the nature of social science
More brickbats than bouquets
Despite the great optimism at the time, privatisation did not remove all the problems of the former state-owned enterprises. On the whole the performance of the privatised companies has been disappointing. A closer examination of these firms and industries can help to shed light on these problems and the challenges for policy-makers.
Oxford University: Facing the Future (Prospect reply)
John Kay responds to some of the criticisms that resulted from his recent article in Prospect Magazine.
A corporation by any other name
Companies that trade under the family name of their founder have become increasingly rare in recent years, but firms are still concerned with their brand name. It has important functions and sends signals to customers and investors about the firm's reputation.
Geography is still important
Has geography ceased to matter in the age of globalisation, as many people believe? In this article John Kay shows that living standards and patterns of production are still largely determined by geographical factors.
A lost cause?
The notion that effective management and free intellectual inquiry are incompatible derives from the belief that if you give people aut...
Technology and wealth creation: where we are, where we’re going
The interrelationship of technology, economic advance, and social and political systems, has many ramifications. The last ten years, in economic terms, have constituted an American decade. But the way in which the American decade comes to an end is probably the most important issue for the world economy today.
Waldfogel’s unwanted gift
Can conventional economic theory be extended to understanding Christmas gifts? Maybe it can, but this would require a more subtle understanding of human behavour than the idea of rational economic man. This article shows that we do not simply value gifts in terms of the cost of the purchase.
Of gas and cell phones
The alleged success of the British mobile phone auctions in raising revenue for the government poses many questions about the desirability of licences and auctions in general. John's article examines the underlying logic of auctions and suggests that the current enthusiasm may be misguided