If it ain't broke, break it: how to increase prices and profits in the GB retail energy market

Written by | Wednesday 22 May 2013

Britain’s competitive retail energy market was the first in the world, and for many years the most competitive. It had the most active suppliers, and the most active customer switching. This competition and choice brought better offers for customers. It may not seem like it because of recent energy price increases. But these reflect increases in fuel costs like gas, higher costs of renewable energy and other obligations on suppliers, not a lack of retail competition.

Busting welfare myths

Written by | Monday 20 May 2013

The welfare debate has roused emotions on both the left and right, and has led to some outlandish claims. Myth needs to be separated from reality. Geoffrey Taunton-Collins gives his take on what we should and shouldn’t believe.

Myth: Welfare spending that goes on pensions is unreformable.

Reality: The state pension eligibility age has risen too slowly.

The Keynesian bias in A-level economics

Written by | Friday 19 April 2013

I have taught A-Level Economics for twenty-five years. The economic crisis has pushed macroeconomics into the spotlight. Non-teaching friends often say that it must be a really interesting time to teach Economics. They are right, it is. However, it is also a frustrating time to be an A-Level Economics teacher. The source of my frustration pertains to the Keynesian bias that exists within the A-Level Economics specification, examination papers and marks schemes.   

Why Marx was wrong about capitalism

Written by | Thursday 11 April 2013

Dr Madsen Pirie's speech in opposition to the motion: "Karl Marx was right. Capitalism post-2008 is falling apart under Its own contradictions."

Like many public figures who leave a legacy, either in their writings or their deeds, Karl Marx was sometimes right and sometimes wrong.  I concentrate on some of the things about which he was wrong.

The rights of others: Don't repeal the Human Rights Act. Give it teeth

Written by | Tuesday 12 March 2013

'Is that you, John Wayne? Is this me?'

A libertarian solution to the welfare state we’re in

Written by | Wednesday 27 February 2013

The welfare state we’re in

Bubble trouble

Written by | Friday 15 February 2013

Last week, Standard & Poor's, the rating agency, was sued by the U.S. Department of Justice (USDoJ) in a Los Angeles federal court for “knowingly and with intent to defraud, devis(ing), particpat(ing) in, and execut(ing) a scheme to defraud investors in (residential property securitisations) and CDOs, including federally insured financial institutions... and to obtain money from these investors by means of material false and fraudulent pretenses, representations, and promises and the concealment of material facts.”

Blame bailouts for huge budget deficits

Written by | Friday 8 February 2013

Among Keynesian economists there is a resilient opinion on how the current large budget deficits shouldn’t be thought of as a serious problem to the economy, since they are ultimately a result of a depressed economy. Here's Paul Krugman:

If elections have consequences, then so does economics

Written by | Thursday 3 January 2013

Speaking on Fox News Sunday following the U.S.

The Benefit-Industrial Complex

Written by | Monday 17 December 2012

Anyone following the progress of the government's “Universal Credit” welfare reform program will know that (1) its signature provision is the creation of the so-called Benefit Cap limiting the amount of benefits that any one person or family can claim in a given week to £350 or £500, respectively.