Tim Worstall

Apparently Nigeria now has a larger economy than South Africa

Written by | Tuesday 8 April 2014

The government of Nigeria has had a quick look down hte back of the couch and appears to have found and extra three quarters of the economy just lying there. Well over $200 billion's worth in fact:

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The Plan; it's working, it's working!

Written by | Monday 7 April 2014

Madsen has long pointed out that we here at the ASI have a slightly strange job. We think up odd ideas which are regarded as those of idiots howling in the wilderness. Some years later they're mainstream and everyone is wondering why they weren't brought in earlier. What intrigues me is that one of those very strange ideas which I am (at least partially) responsible for is becoming mainstream, indeed is being enacted.

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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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