Author: Edgar Brown

Economics

Friedman’s Negative Income Tax 

A modern welfare state typically provides both contributory and means-tested benefits. Contributory benefits are those which depend on individual levels of contribution to a social insurance programme. This is the principle behind Medicare and unemployment insurance in the US, or National Insurance and state pensions in the UK. Means-tested benefits, on the other hand, are only offered to those who meet specific income criteria.  Historically, … Continue reading Friedman’s Negative Income Tax 

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Economics

Henry George and the Land Value Tax 

Henry George was a 19th century American economist who founded Georgism, or the movement for a single Land Value Tax. His ideas were immensely influential in his time, with his 1879 book Progress and Poverty selling millions of copies worldwide. But despite this Georgism is rarely discussed today, even though many of the questions he sought to answer are once again resurfacing. Should we tax income or wealth? … Continue reading Henry George and the Land Value Tax 

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Economics, Europe, Finance and Markets, Politics, UK

Black Wednesday 1992: Lessons in Disaster 

In the weeks following Wednesday 16 September 1992, the Pound crashed 25% against the US Dollar. Dubbed ‘Black Wednesday’ or the ‘Sterling Crisis’, the chaotic events of that day would have a lasting impact on Britain’s economy, politics and relationship with Europe. But despite this fact, the causes and effects of the 1992 Sterling Crisis are still not widely understood among the general public today.  … Continue reading Black Wednesday 1992: Lessons in Disaster 

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Economics, International, Long Read, Politics

 Anarcho-Capitalism: Utopia or Pipe Dream?

In the modern world, we take it for granted that the government should play an essential role in economic and social affairs. The idea that society could ever function smoothly without the apparatus of the state seems preposterous. Indeed, there is good reason to believe this, as mainstream economists today would identify three broad areas of responsibility that the state holds in managing the economy. … Continue reading  Anarcho-Capitalism: Utopia or Pipe Dream?

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