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Only One Man Can Save Venice: Mickey Mouse

In 2008, the Instituto Veneto awarded me a prize for this essay on the future of Venice, which advocated charging tourists €50...

Scotland’s Money?

What currency options would be available if Scotland became independent? This pamphlet describes how the globalisation of finance and the digitisation of...

The Bezzle Years

This essay was originally written for Project Syndicate in 2015. If anything, it is more relevant now. More than...

Britain’s retailers are too quick to blame business rates

It is a remarkable fact, but few businesses ever seem to fail because of excessive leverage, misconceived strategies, or inability to meet the needs...

The real meaning of risk for retail investors: John Kay takes...

John was recently interviewed about a forthcoming FT Money article by Claer Barrett. Listen to the interview via the FT, via Soundcloud, or subscribe...

John Kay on the meaning of the market

In a wide-ranging interview, he explains why he fell in love with economics, what big banks and taxi drivers have in common, where modern finance has gone wrong, why economists should admit there are somethings you cannot predict and the new book he is working on with his old colleague Mervyn King.

UK needs to expand house building

Tackling the crisis requires rebalancing supply and demand with more new homes

Ugly descriptions of the the market economy undermine its real successes

The Labour and Conservative party election manifestos mark a retreat from the economic liberalism of the years from 1980 to 2015. There is a risk that the real achievements in removing obstacles to productivity and innovation will be steadily eroded.

Gambling is a feature of capitalism – not a bug

In a modern capitalist economy, almost everything is for sale, including risks. Markets can transfer known risks to people or institutions who can handle...

Merry Christmas, whether or not you celebrate it with a sherry

Sales of sherry in Britain have fallen by more than half in the last ten years. The Wine and Spirits Trade Association blames taxation. But, as so often, the reasons are not economic, but social and cultural.