A New Wealth Tax for the UK: Delicately Plucking the Golden Goose
The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing. – Jean-Baptiste Colbert, Finance Minister to Louis XIV Starting in early 2020, life as we knew it came to a stop, as governments around the world locked up their countries to fight the COVID-19 pandemic. The resulting economic impact … Continue reading A New Wealth Tax for the UK: Delicately Plucking the Golden Goose
Should a form of Carbon Pricing be introduced in the US?
Since 1896, when global warming was first publicly shown to be a consequence of burning fossil fuels, humanity has wrestled with the conundrum of how best to respond to this looming threat. Against the background of politicisation associated with climate change, economists have argued over the benefits and detriments of introducing a carbon tax: a way of taxing companies which emit greenhouse gases so as … Continue reading Should a form of Carbon Pricing be introduced in the US?
An interview with Professor Cass Sunstein: Nudges, economic systems, and freedom
Cees Armstrong and I had the pleasure of interviewing Professor Sunstein, the Robert Walmsley Professor at Harvard Law School. Professor Sunstein is the best-selling author of many books, including the critically acclaimed Nudge, as well as the most cited law scholar of all time. He now works with the US government. Continue reading An interview with Professor Cass Sunstein: Nudges, economic systems, and freedom
Price Controls on Essentials During the Pandemic
The phrase “time of crisis and shortage” is certainly applicable to the coronavirus pandemic; it refers to a period of difficulty where specific items cannot be obtained in sufficient amounts due to shortages in quantity supplied. This may encourage societal inequalities. For example, in order to prevent a future lack of essential goods, higher income earners are better placed to “hoard” such goods, as the … Continue reading Price Controls on Essentials During the Pandemic
News Briefing – 17/5/21
We’ve summarised the top stories of the last week into an easily digestible briefing, so that you can stay up to date on what’s happening around the world. You can subscribe to receive the briefing in your inbox each week. Business & Economics On Wednesday, the Office for National Statistics released figures for business investment for the first quarter of 2021. Total investment fell by … Continue reading News Briefing – 17/5/21
News Briefing – 10/5/21
We’ve summarised the top stories of the last week into an easily digestible briefing, so that you can stay up to date on what’s happening around the world. You can subscribe to receive the briefing in your inbox each week. Business & Economics In a virtual meeting last Tuesday, Boris Johnson and Narendra Modi (Prime Minister of India) agreed to a new “Enhanced Trade Partnership” between the two countries. The PM … Continue reading News Briefing – 10/5/21
Interstellar Economics
In 1978 Dr Paul Krugman wrote a paper entitled The Theory of Interstellar Trade, supposedly to cheer himself up. Yet despite the self-described “silly” nature of the work, it contained serious analysis, and since being written has inspired several more works on the economic implications of interstellar travel. The chief issue that economists have grappled with is that of time dilation. In short, Einstein’s theory … Continue reading Interstellar Economics
China’s Growth
Since 1979 China’s income per capita has increased by a factor of 37 from $272 to $10 099. This means that China has gone from a low-income country to a high-ranking middle-income country in 40 years, (a high-income country has a per capita income of $12 536 or more). In the first three decades of this huge growth, China grew at an average of 9-10% … Continue reading China’s Growth
The End of Tax-Free Shopping in the United Kingdom
This article explores the potential economic impact, particularly on the West End of London, of the recent decision by the Treasury to discontinue the VAT Retail Export Scheme for international visitors. Continue reading The End of Tax-Free Shopping in the United Kingdom
Central Bank Digital Currencies: catalyst for financial inclusion?
Evolution of Money Traditionally, money is a metal token or a slip of paper symbolising a value of credit based upon people’s trust in it. Its three primary functions (store of value, means of exchange, and unit of measurement) have been served by constantly evolving means for 3000 years. The latest in this evolution is the digital currency. Unlike any type of currency to precede … Continue reading Central Bank Digital Currencies: catalyst for financial inclusion?
