Tim Worstall

The myth of Mazzucato's Entrepreneurial State

Written by | Saturday 16 November 2013

It's quite extraordinary the way in which Marianna Mazzucato, in her book The Entrepreneurial State, uses the example of the iPhone as proof that it's really the State that is the entrepreneur. Here's Owen Jones taking the argument for a walk:

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Apologies Mr. Burnham but this isn't the way that work works

Written by | Friday 15 November 2013

It rather worries me when public policy is influenced by those who seem to have no clue. As with Andy Burnham here on the infulence of technology on pay.

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Scott Sumner's right you know

Written by | Thursday 14 November 2013

Last time around that we had some vast economic disaster we ended up with the conventional wisdom being that fiscal policy was everything and that, as Keynes pointed out, governments should just spend more in fiscal stuimulus and she'll be right. As Friedman and Schwartz then went on to point out this wasn't quite so. The real cause of the Great Depression was not the stock market crash but the monetary response to it. The Fed rather screwing up by allowing the money supply to fall.

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The lessons of Obamacare

Written by | Wednesday 13 November 2013

I will admit to rather enjoying the ongoing trainwreck that is Obamacare. It's just so wonderful to see so many of my prejudices being validated.

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Tracking the disaster that is Venezuela's economy

Written by | Tuesday 12 November 2013

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A visit to the happy world of Will Hutton

Written by | Monday 11 November 2013

As ever, Will Hutton gives us a glimpse into that happy world where more government is the solution to everything. Here it is to the lack of innovation which supposedly pervades our economy:

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Equal pay day comes around again

Written by | Sunday 10 November 2013

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Despite what WRAP tells us we do not throw away food worth 12.5 billion each year

Written by | Saturday 9 November 2013

Another year and another report from WRAP telling us that we're all throwing away food worth some vast sum:

4.2m tonnes of avoidable food and drink waste was thrown away by UK households last year - worth £12.5bn - according to the latest report by the Waste & Resources Action Programme (Wrap).

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Now this is how you value a company

Written by | Friday 8 November 2013

Finally we've got someone valuing a company, a producer, in the correct manner. Which isn't by the amount of tax the company pays (no, sorry Margaret, Lady Hodge, it simply isn't), nor by the number of people it employs and most certainly not by either the stock market valuation nor turnover of the organisation.

No, the greater value of a producer is what it delivers to us, the consumers:

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Woo time on tax poverty

Written by | Thursday 7 November 2013

Yes, it's still tax poverty week and the claims about moving from the current minimum wage to the living wage are coming in thick and fast. The latest piece of woo on offer is this:

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