Tag: Politics
Scotland builds its economic muscle to fight again for independence
Watching the progress of Scottish nationalism is like watching a teenager grow up. Last year, at the age of 18, Scotland’s devolved parliament finally...
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.
Business is not politics
Why do business leaders often fail in applying their skills to politics?
Trump victory has its roots in the post cold-war settlement
There is wide agreement that Brexit and Trump's election were caused by economics. But this and the prescriptions - tweaks to the income distribution, more aid to failing industries and districts - understate the scale and nature of the problem.
The economics and politics of manufacturing fetishism
As politicians vie with each other to express their love of manufacturing industry, John pulls together thoughts developed over three decades on what he has come to call the 'manufacturing fetish'.
The dangers of confusing democracy with populism
Last week I received a communication from the Electoral Commission about the coming EU referendum. The pamphlet states the case for each side and gives instructions on how to vote. At first sight that process epitomises democracy in action. But on closer examination the leaflet illustrates why momentous decisions should not be made this way.
Political instability stems from the diminished importance of the left-right spectrum
The problem of western democracies such as Britain and the US is that the institutions of a two-party system in which alternating governments compete to attract votes in the centre do not work well when politics is no longer arranged on a one-dimensional spectrum from left to right. Recent political upheavals are only the start of the resulting instability.
Incremental improvements to infrastructure offer better value for money
Does it lift your heart to hear that “Britain is uniquely placed to lead the world in a smart power revolution”? Do you share the ambition of George Osborne, chancellor of the exchequer, to discover “what the government needs to do to become a world leader in 5G infrastructure”? Here's why my heart sank when reading these words in the plans of the UK’s National Infrastructure Commission.
