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Private finance initiative

Public investment is now prioritised according to whether it can be disguised by the private finance initiative: Goodhart’s Law has come into play once again.

A German lesson

The great German experiment teaches us a great deal. One of the lessons is that microeconomic policy is of critical important.

A Theory of the Social Market

The communitarian view of politics and society - whereby our actions and views are inseperable from the communities in which we live - is not incompatible with mainstream economic thinking. Rather, it heightens our understanding of how markets work.

Now mind the gap

The Bank of England should get on with the job of setting interest rates and other monetary activities, and be held accountable for how well it performs. Instead, everyone wants to retain control over decisions while shedding responsibility for outcomes.

The Good Market

Competition is a powerful stimulus to efficiency, innovation, and customer service. We can believe these things, and should, without feeling obliged to accept the political agenda of libertarian individualists. The language of inclusion provides the basis for doing so.

Challenging the robust and flexible plc

We are converging on the plc as the only form of economic organisation in the modern world. But this is not without costs - and it is because we are not giving viable alternatives any legal encouragement.

The victory of market forces over central planning is complete (Social...

The victory of market forces over central planning is complete. The communist regimes of Eastern Europe collapsed under the weight of their own...

Social life of the markets

Different societies function in different ways, but Britain is really a “high trust” society. We would do well to recognise this.

Sharing responsibility is to pass the buck

Taking decision making powers without also taking responsibility means that nobody is really responsible at all – as Michael Howard has ably demonstrated.

ESRC lecture 1994 – Is There a Competitive Advantage of Nations?

Competitive advantage is based, not on doing what others already do well, but on doing what others cannot do as well. Not only is this true for individuals and for firms, but for countries as well.

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