The UK wind debate assumes that wind farms operate at roughly their average output most of the time. According to Dr. Capell Aris’ new paper produced in concert with the Scientific Alliance this is not true. Power comes only extremely intermittently and variably and there are long periods of negligible efficiency in the long winter months when power is most needed. A 10GW wind fleet would need approximately 9.5GW of fossil capacity to guarantee its output.
Members of Parliament may talk a good talk about their desire to support entrepreneurship in the UK, but in practice there are multiple, competing policy options open to them – whether this is increasing tax breaks, spending more in various ways or cutting regulation. Due to the limited time and resources available to government it matters where the sympathies of our representatives lie within the context of the current policies already in force. Parliamentary Snapshot: MPs on Entrepreneurship is the first survey to uncover the views of MPs on policies impacting entrepreneurs, providing useful insights on the opinions and working knowledge of the House of Commons.
An independent Scotland using the pound outside of a currency union would have a more stable financial system and economy than it has now or than a currency union could provide, argues Sam Bowman. ‘Adaptive sterlingization’ – a combined policy of unilateral use of GBP without a formal currency union and reform of Scottish banking regulations – would reduce risk-taking and increase competition in banking, significantly reducing the prospect of large-scale bank panics and financial crises. The ‘dollarized’ economies of Latin America – Panama, Ecuador and El Salvador – provide strong modern-day evidence that banking systems do better without central lenders of last resort.
It is a very common view that “importing” foreign football players into the UK to play in the Premier League leads to less opportunity for English players to play for these teams. This means that English players get less high-level experience, and consequently aren’t as good as the players of Spain, France, Italy or Germany, who make up a larger fraction of the players playing in their home leagues. This, the argument runs, is an important factor in explaining the English national team’s perceived underperformance in international competitions. I review the literature and present novel data establishing a negative relationship between current performance (as measured by FIFA ranking) and the current amount of football played in a league by native players (across Spain, England, Germany and Italy). Further, I find no relationship between minutes played by English players in the Premier League five or ten years ago and current performance. Finally, I find strong evidence that a league’s overall strength (as measured by its UEFA coefficient) is predicted by the current amount of foreigners playing in it. To restrict foreign players would not directly benefit the English national team, but it would risk substantially curtailing the overall quality of the world’s most popular football league.
Gabriel Sahlgren shows the relationship between educational outcomes and economic growth and argues that expanding access to private education would improve long-run GDP growth dramatically.Read More »