Tim Worstall

On Russell Brand's misunderstanding of profit

Written by | Saturday 26 October 2013

The former Mr. Katy Perry took to Newsnight this week to display to all of us his ignorance of economics.

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Regulation isn't the way to ensure a diverse marketplace

Written by | Friday 25 October 2013

As we all well know one analysis of the Great Crash is that it all happened because financial markets werte too concentrated. There were banks that were "too big to fail" and which we couldn't just let go bust therefore we had to bail them out. I certainly ascribe to part of that analysis, or to it in part perhaps. And a useful solution would therefore be to break up large banks so that none are in fact to big to fail. Seems a logical answer.

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If you don't pay for someone else's university course then you're violating their human rights apparently

Written by | Thursday 24 October 2013

A rather worrying document crosses my desk. This one, in which we are told the following:

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Neelie Kroes has a Nancy Pelosi moment

Written by | Tuesday 22 October 2013

I can't help feeling that there must be a better way to run a continent than this.

The background is that the EU Commissioner, Neelie Kroes, wants to stop the mobile telecoms firms from charging roaming fees. Well, OK, whatever. But Vodafone, one of those companies that will be affected, is arguing that this will or at least could lead to the sort of cooperation among the mobile companies that other parts of the EU will regard as collusion. A cartel even: and the EU can fine a company 10% of global turnover for indulging in something like that.

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Marinaleda, the new new socialist utopia

Written by | Monday 21 October 2013

Hope springs eternal that there's some method of socialism that will actually work and the latest example, something which is in the words of the author here a beacon of hope to the world, is called Marinaleda. A large village of just under 3,000 souls in southern Spain where they farm the fields in common. Parts of it sound awful:

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It might not be nuclear power station costs that are the problem

Written by | Sunday 20 October 2013

We've the news that the Chinese are to be allowed to put their hard earned cash into providing us with electricity through the medium of nuclear power stations. Something that I'm just fine with I have to say: I'm absolutely delighted when other people invest their money to provide me with things I desire. But it's worth mentioning something important about all of this:

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In which we catch the New Statesman being very silly

Written by | Friday 18 October 2013

Here's the New Statesman putting forward an entirely ludicrous idea. A very silly one indeed:

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Drill baby, drill: fracking just got cheaper

Written by | Thursday 17 October 2013

As regular readers will know I have something of a bee in my bonnet about the costs and benefits of jobs. To those who have a job it is a cost of gaining the income which they desire from having a job. To those actually doing something having to hire people to do a job is of course a cost of getting that thing done. Jobs are, on both sides, therefore a cost, not a benefit of something being done.

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We spot the Laffer Curve in the wild again

Written by | Wednesday 16 October 2013

 

A little point about the Laffer Curve that isn't usually properly appreciated. There is no Laffer Curve.

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Does the Nobel kill the Robin Hood Tax?

Written by | Tuesday 15 October 2013

So, that Nobel award then. What's the political lesson we should draw from this?

Myself I would say that it kills the Robin Hood Tax, aka the Financial Transactions Tax (FTT) stone dead.

The 2013 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded jointly to Eugene F. Fama, Lars Peter Hansen and Robert J. Shiller "for their empirical analysis of asset prices".

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