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Tuesday, October 20, 2020
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Brace yourself, Britain, for higher taxation

Britain cannot aspire to continental European levels of public services with lower tax rates. Any British government has to confront that simple fact.

The real cost to business of government guarantees

The most effective control is other parties’ diligence in assessing the businesses with which they deal.

Labour’s digital plan gets in the way of real progress

All our experience of the development of information technology starts from what the customer might want rather than what the technology might do.

Powerful interests are trying to control the market

A stance which is pro-business must be distinguished from a stance which is pro-market. In the two decades since the fall of the Berlin Wall, that distinction has not been appreciated well enough.

Chaotic evolution defines the market economy

Markets are not a well-oiled machine: they are a constantly changing, adaptive biological system.

‘Too big to fail’ is too dumb an idea to keep

When the next crisis hits, and it will, the frustrated public is likely to turn, not just on politicians who have been negligently lavish with public funds, or on bankers, but on the market system. What is at stake now may not just be the future of finance, but the future of capitalism.

The Future of Markets

Markets are not a well oiled physical machine: they are a constantly changing, adaptive biological system. Pluralism is their motive force, their essence chaotic, their development inherently uncertain. If we could predict the evolution of markets, we would not need markets in the first place.

Do not discount what you cannot measure

Bogus quantification attempts to compress complex problems and analyses into single observations.

Banks must learn to put the customer first

If financial institutions are to survive, they must behave more like supermarkets

Everyday banking with no bill to the taxpayer

Government underwriting of deposits should be matched by assets of comparable quality. Otherwise the mismatch of risk provides an unjustifiable public subsidy to the banking sector.

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