Tag: Theory

“Ownership” is not a simple concept. I own my umbrella, and companies are owned by their shareholders. The word means different things in different situations.

When should a government intervene in the market? It is not clear what New Labour thinks is the answer.

For most of the last century, political debate on economic issues has been dominated by socialism. The agenda and the language of socialism...

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.

What is a brand? Sometimes it is a quality certificate and sometimes, simply part of the product itself. It matters which.

Management, like medicine, can be taught. Sadly, the state of the art is a couple of centuries off the pace.

There is more to auctions than meets the eye. If you are going to design markets, make sure you understand how they work.

Piece rates are out of fashion but incentive contracts for top executives are in. Perhaps we will soon discover that the problems caused by piece rates also dog share option schemes.

Is it really so bad to be “stuck in the middle”? If you can master the art of the “shifting concept” you can make any idea stick.

We evaluate risks poorly - whether it comes to insurance, speculation or beef scares. These mistakes cost us all money in the long run.