Tim Worstall

Why is everyone shouting that the nuclear deal is so expensive?

Written by | Wednesday 23 October 2013

I have to admit that I'm not really getting all this screaming about how expensive the nuclear deal is. Just not getting it at all:

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Equality in death if not the time of it

Written by | Saturday 19 October 2013

New figures out from ONS means that the newspapers have an opportunity to point to the inequality of lifespan in Britain:

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Yes, let's abolish the census

Written by | Thursday 5 September 2013

Danny Dorling is bemoaning the decision to abandon the census:

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Stupid, stupid, people

Written by | Monday 26 August 2013

The question for today: are we actually ruled by fools?

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23 Things We're Telling You About Capitalism XXI

Written by | Wednesday 5 June 2013

The 21 st thing is that a larger government actually makes economies more flexible: thus we should have larger governments in order to increase the necessary flexibility of the economy. And if the first part were true then the second part might indeed follow: only it isn't, at least not in the sense that Chang means it.

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23 Things We're Telling You About Capitalism XVII

Written by | Thursday 30 May 2013

In Thing 17 Chang tells us that the current preoccupation with extending access to higher education is grossly wrong. It might well be true that more people should enjoy three years at the gleaming spires (and in the modern world, the booze, babes or boys to choice) and we are indeed in a richer world so why not? We do expect to take some portion of our ever increasing wealth in more leisure and there's no reason at all why this shouldn't be three years at the start of working life rather than more days off during it or more years of senescence after it.

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23 Things We're Telling You About Capitalism XIV

Written by | Friday 24 May 2013

Our fourteenth thing is simply that American executives get paid far too much money and that this is wrong. In itself this is proof that a market manner of doing things is ineffective: just the simple fact that the average US CEO gets 300 times the wage of one of his workers proves this.

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23 Things We're Telling You About Capitalism XIII

Written by | Thursday 23 May 2013

Thing 13 is simply that trickle down economics doesn't work. Making the rich richer doesn't make everyone richer therefore we shouldn't be planning to make the rich richer. The whole thing is based upon the marginal propensity to invest: investment is good for the future of the economy, the rich invest more of their incomes than the poor do thus if the rich get more of the money then there will be more investment and that's good for the future. Chang insists that this idea is wrong, based as it is upon the classical economists.

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23 Things We're Telling You About Capitalism XI

Written by | Tuesday 21 May 2013

The eleventh thing we've not been told about capitalism is so bizarre as to make me wonder whether Chang was proofread before publication. The layout of the free market position is that Africa is irredeemably doomed to low or no economic growth because of structural factors: ethnic diversity, disease, geography and so on. And the reason that we free marketeers say this is because we're embarrassed about the fact that Africa instituted free market reforms in the 80s and hasn't grown since then.

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23 Things We're Telling You About Capitalism VIII

Written by | Thursday 16 May 2013

In our eighth chapter Chang tells us that as capital is, despite Marxist insistences, national in some manner therefore we should be nationalist about capital. Whether or not we allow Johnny Foreigner to come and invest in our pristine and national economy thus become a political question: the politicians should stroke their beards and ponder upon whether this specific capital is going to do the right thing in our specific economy.

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