Home Tags Economics In Action
Tag: Economics In Action
Bitcoin: Boon or Bubble?
https://soundcloud.com/curioio/john-kay-bitcoin-boon-or/s-UenQt 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 good example of economics done properly
This article entitled "We Know What Causes Trade Deficits", by Joseph Gagnon at the Peterson Institute for International Economics, is a good of example...
John on the weaknesses of behavioural economics: a review of...
Lewis provides a list of observations that cast substantial doubt on conventional rational choice models, although he fails to point us towards alternatives.
Pharma responsibilities are to a wider community than its own shareholders
Two recent events have served to highlight the range of difficult questions raised by pharmaceuticals regulation. Last week, a man died in the French city of Rennes after a clinical trial of a painkiller went tragically wrong. In New York last month, the company controlled by former hedge fund manager Martin Shkreli, raised the price of the life-saving drug, Daraprim, from $13.50 a tablet to $750.
The move towards a cashless society is bad news for criminal...
Andrew Haldane, chief economist at the Bank of England, speculated last week about a cashless future in the hope that it might enable central banks to reduce interest rates below even their current near-zero levels. But this also has important implications for the fight against crime.
Effective leaders recognise the limits of their knowledge
We all have a tendency to interpret evidence, whatever its nature, as demonstrating the validity of the views we already hold. It requires intellectual magnanimity to acknowledge that additional information might lead us to a different conclusion.
It sometimes makes sense to fix the market rather than its...
The 2015 election was an almost unmitigated disaster for the UK Labour party. Yet there was one significant success — an intellectual one. It's called "predistribution". And it has already been put to use by the new Conservative administration with a 40% increase in the minimum wage.
Rationality will be at work this Christmas
At Christmas people will spend time with relatives they do not much like, give presents that the recipients value at less than they cost, and eat and drink more than they know is good for them. This is not completely irrational.
Hard work and talent combine for sporting and business success
The rout of the Brazilians by the Germans at this year's football World Cup and British success in cycling seems to reinforce the thesis that hard work trumps talent. Yet it is not just modesty that leads me to suspect that even after 10,000 hours I would not be ready to perform at Wembley Stadium.