These are disturbing times for those of us who believe in free-market economics. After more than three decades in which the West has been governed by regimes claiming adherence to the principles of the market, the economy is locked into “secular stagnation” and massively in debt – and the public is in the process of […]
Though the recent slump in the Chinese stock market should be seen within a limited context, there is a strong and growing likelihood of a major financial crash starting in China before, inevitably, spreading globally. The main reason for this is that China has channelled enormous borrowing into the creation of excess capacity, which is […]
In an era when so much of each budget is “briefed” in advance, it can be difficult for a Chancellor to pull a really unexpected rabbit out of the hat. However, George Osborne certainly accomplished this when he introduced the “national living wage” in the first Conservative budget for almost two decades. Though this initiative […]
In her article for CapX, Harriet Maltby raises the question of morality, and asks whether it has been debased because, as some critics allege, “capitalism has transformed us into heartless materialistic machines whose only moral code is fame and money”. She sets against this attitude an essentially Aristotelian morality in which ‘being’ is vastly more […]
Tim Morgan explains why supporters of capitalism should welcome the debate over inequality – and must never allow it to appear synonymous with unfairness. Ever since the publication of Capital in the 21st Century, prominent supporters of capitalism have rivalled each other in their denunciations of Thomas Piketty’s egalitarian thesis. In so doing, they have […]
