Tim Worstall

23 Things We're Telling You About Capitalism VI

Written by | Tuesday 14 May 2013

The sixth thing about capitalism we're told is that inflation just isn't so bad. Further, that the attempts to reduce inflation have led to greater economic instability elsewhere. We should thus chillax about inflation and concentrate on other things.

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The quite fascinatingly stupid case of the minimum carbon price

Written by | Saturday 20 April 2013

The Wall Street Journal picks up on the quite fascinatingly stupid imposition by the current government of a minimum price on carbon permits. This could only have been done by people entirely ignorant of how a cap and trade system works: not a wholly desirable attribute in those supposedly running a cap and trade system.

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High Frequency Trading: Yes, Smith Did Say This Would Happen

Written by | Saturday 20 October 2012

It appears that all of these nefarious high speed traders are not, as all had thought, making vast profits. Rather, they've come up against a limitation to the system which is seriously reducing their profits. Meaning that regulation and action to stop HFT is really rather moot:

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These social democrats are very strange you know

Written by | Saturday 6 October 2012

A very puzzling call contained in the latest little pamphlet from Compass. You know the sort of thing, the call to arms about what we must do to make this a more caring, sharing and wondrous society. And yes, I read these things so you don't have to. They insist that there should be a European minimum wage:

Europe should therefore move towards a continent wide minimum wage, based on the respective average income.

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On knowing economics before criticising economics

Written by | Friday 28 September 2012

So we've another of these fellahs trying to tell us that economics has got it all wrong. You know the sort of thing: economics doesn't consider pollution or other externalities. When half the subject in recent decades seems to have been about that very point. Or that it doesn't consider value to people properly, only thinks of what can be counted in lucre. When the very definition of economic value is the value to people, both monetary and non-monetary.

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Why we really do want a carbon tax

Written by | Wednesday 26 September 2012

I know, I know, climate change isn't happening, it's all been made up. OK, so, for the next few paragraphs let's just assume that it is, we're causing it and also that we need to do something about it. And here's yet another example of what we want and need to do about it is a simple and straightforward carbon tax:

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Sure, experts should do their expert things

Written by | Sunday 2 September 2012

Apologies for this extensive quote from The Guardian. It might shock the eyes of those who generally avoid that particular paper:

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Girls surpass boys at A Level: how surprising is that?

Written by | Sunday 19 August 2012

OK, perhaps I shouldn't use a distaff side Johnson as a source of fact but this did rather strike me:

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The problem with relative poverty

Written by | Sunday 12 August 2012

Here actually is the problem with using relative poverty as a measure:

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