The end of the pact could turn out to be a blessing
The end of the stability and growth pact will be a victory rather than a defeat if it leads to new ways of monitoring and controlling fiscal policy. John explains the need for governments to delegate responsibility for setting taxes.
Size isn’t all that matters for global economies
For countries as for businesses, small scale is no barrier to success. John explains why size isn’t all that matters.
When natural resources are a curse
It is in human, rather than natural resources, that the origins of material prosperity are to be found. John describes why natural resources may be a burden rather than a blessing for some developing countries.
Don’t get too hung up on inflation measures
Index number experts are the economic analogue of trainspotters. John explains why the Chancellor should direct attention to a broader range of monetary measures instead of redefining the inflation index.
Economic forecasting will never be an exact science
John explains why reliable economic forecasting is, in principle, impossible
The public always comes last in trade talks
What went wrong at Cancun? The core problem is that industrial pressure groups have gained too much influence on economic policy.
A message from Macbeth, and Adam Smith
The invisible hand is the most widely used metaphor in economics. What did Adam Smith (or William Shakespeare, who coined the phrase) really mean?
Imperial China fell prey to a lack of pluralism
Unravelling one of the great puzzles of economic history - why did economic development take off three centuries ago in North West Europe, not South East China?
When the heat is on the cool places still prosper
The connection between a country’s climate and its wealth can prove elusive.
Vive la différence in the local market
A walk on Menton's marché municipal reveals how the conclusions regarding differences in productivity among countries, can be both obvious and meaningless.