Patterns of sustainable specialization and trade

Adam Smith and David Ricardo explained the benefits of trade, based on specialisation and comparative advantage. These concepts, says Arnold Kling, also can provide the basis for explaining fluctuations in employment. In this paper Kling proposes that we jettison the Keynesian paradigm of aggregate supply and demand (AS-AD) in favour of an alternative paradigm, which he calls patterns of sustainable specialisation and trade (PSST).

Read this report.

Reforming the National Health Service

In this report, retired industrial line manager and entrepreneur Chris Davies reflects on his experience of four decades of NHS care, and details the numerous occasions on which Britain's health service has failed him. He argues that the NHS is a fifties-style nationalized service that does “time wasting and inconvenience on a monumental scale" and is fundamentally incapable of serving its customers effectively. Davies goes on to advocate reforms far more radical than anything yet contemplated by the British government: his blueprint would see the entire NHS estate sold to competing, private groups; it would establish a national insurance fund financed by the proceeds of those sales and by employer and employee contributions; and it would introduce a co-payments system whereby patients had to pay 20 percent of medical bills themselves, up to reasonable annual limit.

Read this report.