Tim Worstall

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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It's amazing how Will Hutton misses the point again

Written by | Monday 14 October 2013

It's entirely astonishing to find that Will Hutton has missed the point again. Here he's talking about education, the costs and returns to it. And he manages to use as examples the very facts that prove his argument wrong.

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Blatherings and facts about the tax gap

Written by | Sunday 13 October 2013

HMRC's just released their estimates of the tax gap. What should be paid under the law of the land against what is actually paid. And as a result we've got Richard Murphy shouting that HMRC's estimations are all wet for he's the guy with the real facts.

Now I am actually under a promise to Madsen not to mention Murphy too much here but he's given us a perfect example of why the numbers differ: because the definitions do. Here's Murphy on corporation tax revenues:

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If you've not got the skills then maybe it's the institutions?

Written by | Saturday 12 October 2013

There's been much fussing about education and skills these past few days as a result of another information release showing that various countries have higher educational skills than others. And also that various countries have higher incomes than others. An example here:

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Why have bureaucrats when markets already solve problems?

Written by | Friday 11 October 2013

An interesting little snippet of news from the colonies:

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Let's smash a cartel today

Written by | Thursday 10 October 2013

I've pointed out here before that parts of the fertiliser industry seem to be run as a cartel. Now we've evidence that much of the fertiliser industry is run as a cartel.

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The desperate horrors of wealth inequality

Written by | Wednesday 9 October 2013

Yes, we've another bunch of bedwetters and handwringers telling us how appalling it is that Britain is so unequal. This time it's about wealth inequality. It's just absolutely terrible about how unequal it all is. Here at The Guardian, at the "Inequality Briefing" site and I'm afraid that it's actually out and out nonsense. Entire tripe.

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Making the wrong argument about supermarket cashiers

Written by | Tuesday 8 October 2013

Farhad Manjoo makes a valiant attempt to insist that supermarket cashiers aren't going to be out of a job any time soon. So what's with all those self-checkout things then?

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