Adam Smith Could – Indeed Did – Tell You Why Your...

It's entirely true that not everyone can know about everything. I myself am lamentably short in understanding why Simon Cowell for example. But there...

The Guardian And Exchange Rates – California’s Economy Now Larger Than...

It's possibly about time that we introduced The Guardian to the concept of exchange rates. To the little wrinkles and bits and bobs of...

Marx At 200 – Yes, He Was Wrong, Badly Wrong

We're at the 200th anniversary of Karl Marx's birth - also the 201 st of Ricardo's publication, the 242 nd of Smith's Wealth of...

It All Makes Sense If The Household Is The Economic Unit

There is much that is puzzling about human behaviour. Economics is a method of trying to puzzle out what the heck is going on....

Donald Trump Still Wrong On Trade – EU Rips Off Europeans,...

We've another example of Donald Trump really not quite getting the right end of the stick over trade. He's claiming that the European Union...

Why We Shouldn’t Believe Will Hutton About Anything

As we all know Will Hutton's basic idea for the British economy is that everyone should just shut up and get on with doing...

Tankslapper

In motorcycling, there exists the charming term "tankslapper" A small instability in the steering begins a cascading failure as the handlebars first twitch, then tremble,...

Amazingly People Are Still Getting Adam Smith’s Invisible Hand Wrong

Vast numbers of people do seem to get the invisible hand idea wrong. Adam Smith was quite clear about that penumbra surrounding it- it's...

The Effects Of Roughly Free Market Capitalism On Maoist Idiocy

Amazingly there are still those out there who think that Mao had an idea or two about how to run an economy. Well, obviously,...

Why Do Peasant Farmers Have To Live Like, Well, Peasants?

You never have to trawl far through the writings of the likes of Oxfam, Save the Children and the rest to find them extolling...