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.
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
Fine distinctions, big rewards
In business as in sport, the prizes allotted to winners and runners-up are often out of all proportion to the differences between them.
Economic Agenda: Sunday Telegraph 10th September 2000
French fuel blockades, the new economy and the relative weakness of the euro.
Knowing versus guessing
As markets develop, gamblers seem to increase in numbers relative to insurers. We need to emphasise the distinction.
Clusters, connectivity and Kevin Bacon
Building a monopoly on the back of network externalities is possible, but only by ignoring the complex reality of human relations.
The recipe for a mutual success
Mutuality seems to be dying as Equitable and Bradford and Bingley relinquish it and the water regulator rejects Kelda's proposition. Perhaps not surprisingly - mutuals suffer from the problems of too little capital - or too much. Is there a possibility of a sustainable constitution for a mutual business?