Economics

Economics

We should see immigrants as an opportunity for growth

Immigration is a hot topic in both Europe and the United States; it always has been, for many decades, even centuries. Now it dominates the political agenda once again. The debate is driven by a deep worry that immigrants are competing for “our” jobs; often there is a tinge of ethnic bias. For much of […]

Economics

Is US aid doing more harm than good?

During his campaign for the presidency, Donald Trump promised to put the interests of American workers and taxpayers first, and to rebuild America’s creaking infrastructure. At the same time, he has argued in favor of reducing America’s overseas commitments and insisted that America’s allies contribute more to their own defense. So might this not be […]

Ideas

What Star Wars teaches us about Hayek (and vice versa)

Star Wars will likely be remembered for its vast influence in film-making and culture, and its cutting edge action sequences and special effects. However, at its core, it is a tale of political failure. It is a saga of the dangers inherent in government, and the ease in which a nation (or a galaxy) can […]

Economics

Why property rights are human rights – especially for women

Most of us would consider our home as the ultimate sanctuary: it’s the place that we make our own and guard from others, a safe space for our families. We may worry over the cost of renting or buying our home. We may struggle to maintain it. But we don’t lie awake at night in […]

Ideas

Here’s the real truth about inequality

What joy to hear those calls for inheritance to be taxed, good and hard, ringing out again. Parents, after all, should be prevented from slaving their lives away to produce gain for their children. Among those who are getting it wrong again on this issue is Polly Toynbee, who says: “Alternatively, we could have fair property […]

Economics

Montreal learned the wrong lesson from Ayn Rand

I’ve always viewed Ayn Rand’s most famous novel, Atlas Shrugged, as a warning about the dangers of over-regulation, over-taxation, and excessive redistribution. I won’t spoil the plot for those who haven’t yet read the book, but it’s basically a story about what happens to a society when the people pulling the wagon decide that’s no […]

Economics

Economics isn’t in crisis – but economists may be

Folk seem terribly keen on pronouncing economics to be in crisis. “The economists are the idiots savants of our time,” says Lord Skidelsky. “[A]s a discipline, the dismal science has quite simply lost the plot,” says Jeremy Warner. “Economists overall have to recognise that their profession is in crisis,” says Michael Gove. The charge-sheet is lengthy: recommending […]

Economics

Yes, there’s a problem with rail fares. They’re too low

This year, as every year, the New Year has been accompanied by a chorus of whining about how the price of rail tickets has gone up again. The Campaign for Better Transport called the latest rises a “kick in the teeth” for passengers. Railfuture accused the Government of acting like Blue Meanies. Transport Focus called […]

Economics

Divided and deluded, Europe faces crisis on every front

“Europe” is not a monolith. It comprises several overlapping entities. There is “Freemovementland” – the passport-free travel area that stretches from the Greek islands to the north of Norway. There is “Frontlineland” – the countries which fear Russian meddling and aggression. There is “Euroland” – the countries which use the common currency. And there is […]

Economics

How the world conquered the City

Over the Christmas week, CapX is republishing its favourite pieces from the past year. You can find the full list here. ‘Crash Bang Wallop: The Inside Story of London’s Big Bang and a Financial Revolution that Changed the World’ by Iain Martin (Sceptre) In 1986, at the height of the greatest deal-making frenzy the City […]

Economics

Why free trade works

Over the Christmas week, CapX is republishing its favourite pieces from the past year. You can find the full list here.   Free trade and free markets have taken a drubbing in the last year or so. Trade has become a dirty word in the US election cycle with both candidates from the Republican and […]

Ideas

A beginner’s guide to socialist economics

Over the Christmas week, CapX is republishing its favourite pieces from the past year. You can find the full list here.   In recent years, I have given a number of presentations to high-school and college students on the importance of economic freedom and persistent threat of socialism – as witnessed, for example, by the […]

Economics

Africa will not rise until it trades with itself

Over the Christmas week, CapX is republishing its favourite pieces from the past year. You can find the full list here.  For an idea of how wealthy Africans want to think of their countries, flick through the adverts in one of the glossy pan-African magazines given away in the continent’s airport lounges. Banks are promoted […]

Ideas

Patriotism needn’t be a dirty word

Over the Christmas week, CapX is republishing its favourite pieces from the past year. You can find the full list here.   Throughout the West, patriotism is on the rise. Theresa May is a strong advocate. She took the opportunity in Birmingham to make the case that a passion for one’s country is not the […]

Economics

Before there was Trump, there was Smoot

Over the Christmas week, CapX is republishing its favourite pieces from the past year. You can find the full list here.   In the year 1929, as America slides into recession, a Republican senator, avowed patriot, Mormon “prophet” and businessman named Reed Smoot decides that he wants to do something about saving the country’s jobs. […]

Economics

François Fillon: The man bringing Thatcher to France

Over the Christmas week, CapX is republishing its favourite pieces from the past year. You can find the full list here.   It came as no little surprise when, three years ago, François Fillon accepted my invitation to participate in the Margaret Thatcher Conference on Liberty, organised by Britain’s Centre for Policy Studies. Needless to […]

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