Tag: Economics In Action

Piece rates are out of fashion but incentive contracts for top executives are in. Perhaps we will soon discover that the problems caused by piece rates also dog share option schemes.

We would do better to stop talking about competitiveness. It seems only to get in the way of clear thinking.

Competition is a powerful stimulus to efficiency, innovation, and customer service. We can believe these things, and should, without feeling obliged to accept the political agenda of libertarian individualists. The language of inclusion provides the basis for doing so.

Privatisation is not valuable in and of itself – it is competition that counts. Although it has worked elsewhere, it has not and will not work in the water industry, because there is no scope for competition.

We evaluate risks poorly - whether it comes to insurance, speculation or beef scares. These mistakes cost us all money in the long run.

Retailing exists because consumers are ignorant, small and immobile. Will the internet really change this?

The victory of market forces over central planning is complete. The communist regimes of Eastern Europe collapsed under the weight of their own...

Different societies function in different ways, but Britain is really a “high trust” society. We would do well to recognise this.

Try formalising a dress code and you will understand the importance of informal, cultural regulation.

Can Microsoft maintain its dominance of the world computer market? Is there a long term future for the Internet unless it falls into the hands of a small group of firms?