Sep 23The UK’s hat trick of failureThe remarkable market reaction to the mini-Budget A new British chancellor unveiled a big package of measures today — not formally a Budget but the nearest equivalent. He proposed measures that would make those who work in the financial sector substantially more wealthy; a cut to the top rate of…Economics2 min read
Sep 1Four meals away from chaosEdinburgh during the fringe is a glorious celebration of the artistic spirit, with any tourist walking down the Royal Mile sure to be deluged with flyers from young people eager to promote their low-budget show. While having a coffee in George Square, I was approached by someone hawking a one-person…Politics6 min read
Jul 18Having a Laffer: the strange new world of Conservative economic policyThe race to become the next Conservative party leader (and Britain’s next prime minister) has turned into a debate about how much and how quickly the various candidates will cut taxes. It is yet another illustration of how the Conservatives are becoming more like America’s Republicans. It represents a change…UK Politics6 min read
Jul 8Why the British political system is superior to the AmericanBoris Johnson has finally resigned. Although it will take him a while to go, a new prime minister will be in place by the autumn. To refer back to a previous piece, getting rid of a Tory leader is a bit like a cat ejecting a furball; it may be…Politics3 min read
May 11Why the markets are wobblingStock markets suffer setbacks on a frequent basis and the tricky issue for investors is to distinguish the temporary wobbles from the more serious events like 2000–02 and 2007–09. In this author’s judgment, while nothing is certain, this market problem is more likely to be serious than any episode since…Investment4 min read
Apr 17The three-card trick: how governments fool the public and avoid responsibilityThe British partygate scandal has been handled with a tactic so old, and so obvious, that it is amazing anyone falls for it. But the tactic is used becaue it appears to work. Or at least, it works because the tactic is hidden within a blizzard of obfuscation. In the…Partygate3 min read
Mar 6Democracy and the strong man problemSometimes it is easy to despair of democracy; how could a sensible system bring the likes of Donald Trump and Boris Johnson to power? These would seem to be the kind of leaders that Plato worried about. Their appeal is based on emotions and misleading information rather than logic and…Ukraine10 min read
Feb 25Have we reached peak podcast?The news that Emily Maitlis and Jon Sopel, two senior journalists, are leaving the BBC to launch a new podcast has led to many headlines about a talent drain from the BBC. But perhaps the focus should be in another direction: have we reached peak podcast? The trend is strikingly…Media3 min read
Feb 18Boris Johnson and the furballGetting rid of a prime minister, between elections, is rather like a cat getting rid of a furball. The process is not pretty, can take some time and creates a nasty mess. But eventually the offending object is ejected. At the moment, Boris Johnson is the furball in the throat of…UK Politics3 min read
Nov 24, 2021Why modern culture resembles the Middle AgesChristians often lament the decline in religious belief in western societies. In Britain, for example, the 2021 census is expected to show that only half of adults identify as Christian, down from 71% in 2001. But while fewer people accept the doctrines of the church, secular western societies display many…Modern Culture4 min read
