Saintly lies and the devil that lurks in double talk
Nothing so much undermines public regard for politics and business as the increasingly widespread practice of equivocation. In the light of the spectacle surrounding the Hutton report, this wisdom should be extended beyond the tale of St Athanasius.
Nobody wins when there are too few taxis
Most bad economic policies can be abandoned, but the harmful effects of restrictive licensing systems are usually irreversible. By illustrating the flaws of taxi regulation, John explains why governments and licensing authorities should think twice before being caught in a transitional gains trap.
Give state funding to students not their colleges
Europe once took 75 per cent of Nobel prizes; today the US does. It is less widely appreciated that this is the triumph of autonomous institutions over government-controlled ones.
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.
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.
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?
You can’t cut costs without cutting service
Successive cost cutting rounds may just be a way of funding the present at the expense of the future.
Too many polls are apt to harm a democracy
Following and trying to manipulate public opinion too closely can lead to a superficially participative democracy. As the recent example in California demonstrates, in this context the emergence of inspirational leaders is unlikely.
Why those who seek popularity lose their authority
The market truly values advisers it can trust; subsequently the effort to impress may have the opposite results.
Vodafone triumphs, Britain picks up the bill
So farewell, Sir Chris. The imminent departure of Sir Christopher Gent calls for an examination of the rise of Vodafone.