Tim Worstall

Yes, of course we should abolish inheritance tax

Written by | Sunday 6 April 2014

This really isn't one of those difficult questions: yes, of course we shoud abolish inheritance tax. Or at the very least this is an easy one: we should abolish the inheritance tax that we actually have.

The Conservative party would be better off scrapping inheritance tax altogether rather than increasing the threshold to £1m, the Institute for Fiscal Studies has suggested.

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The latest bright idea about the housing shortage

Written by | Saturday 5 April 2014

The latest bright idea from those who would solve the housing crisis seems very much less than bright to me. Here's Polly detailing it:

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No wonder activists hate the Koch brothers so much

Written by | Friday 4 April 2014

This ia a rather alarming thing for any activist to read in the daily newspaper. From Charles Koch in the WSJ:

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What on earth is Germany doing here?

Written by | Thursday 3 April 2014

This looks to me like an extraordinarily silly decision over there in Germany:

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Art museums are simply too expensive, sell everything and close them down

Written by | Wednesday 2 April 2014

This is based on a recent piece in the NYT which I cannot now find so apologies both for the repeat and also for the possible garbling of the argument. But art is simply to valuable to be hanging in museums these days. We should sell the lot off and close them all down.

Take, for example, the mythical Vermeer, "Girl who has lost her ears let alone her pearl earring". This is worth, in these days of Russian oligarchs, $100 million. It is also hanging in a public museum in London, owned by some arm of the State.

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Markets are the way to beat climate change

Written by | Tuesday 1 April 2014

So we've been treated to the latest installment of climate science from the IPCC. And as they say, it's vitally important that we have well functioning markets to deal with this. Of course, we need well functioning markets to deal with anything but here, right from the horses mouth (in Chapter 10, here) is what they say about markets:

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Apparently HFT is going to bring on the next crash or something

Written by | Monday 31 March 2014

I confess, I do find myself a little puzzled by the coverage of finance and banking over at The Guardian at times. Are their writers actually inhabiting this same universe that we are or are they phoning it in from some parallel one? Tke this example, worrying about the perils of high frequency trading (HFT):

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Higher food prices reduce poverty

Written by | Sunday 30 March 2014

It's a general assumption that higher food prices are bad for the poor. Clearly, it must be: the poor, the truly poor that is, spend some 80% of their incomes on food, if the price rises then obviously they must be getting poorer. Thus all that nonsense from the World Development Movement, Oxfam et al, about how food speculation in 2008 drove up food prices, impoverished more and thus we must ban capitalism etc.

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A very important point about climate change

Written by | Saturday 29 March 2014

As you all know I'm boringly mainstream in my views over climate change. The scientists tell us that we've got to do something, the economists that that something is a carbon tax so I say, great, let's have a carbon tax. And then we get information that rather changes this so far sterile debate:

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Can politicians act in an actively stupid manner?

Written by | Friday 28 March 2014

An interesting question can politicians act, at times, in an actively stupid manner? No, not just be misinformed, a bit dim even, but can they end up enacting policies that are so far from their intended consequences that we can only describe them as having been actively stupid?

The answer, you won't be surprised to find out, is yes. As David Henderson points out here.

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