Governments exist to provide security for and promote the wellbeing of its people. Historically providing for the wellbeing of the people has normally meant attempting to create the fastest possible growth rate, so increasing wealth creation. Even in communist states that were supposedly egalitarian
The current welfare system employed in the UK and other countries around the world disincentivizes hard work and makes it difficult to get off benefits without losing out. A negative income tax system would mean there is a sliding scale which is fair to the worst off, but doesn't penalise people if
We all like to win; so a cooperative game where everybody gets something 'should' be desirable for everyone who is risk-averse and diplomatic. However, risk takers prefer zero-sum games; in which there is a clear winner and loser/losers.
Taxes are the basis of a basic give and take between the state and its people. The people provide the state with money and the state in return gives them security. Originally this only meant security against enemies but since from the 19th century security has also meant security against disease, po
One of the greatest sporting shows on earth is underway in South Africa. The football has so far not been as good as might have been expected but what are the benefits to the hosts? The Olympics in particular used to be known as an event that often leaves a city that hosts the event in significant d
Competition is a boon not a bane. In economics we are made to believe that if regulation was removed altogether we will have perfect free market economies in the long run; that will be more efficient than any economic scenario imaginable in the short run.
In academia: The idea that competiti
The science budget is one of the area’s most likely to be cut or at least frozen when the cuts in government spending begin to bite. However many scientists criticise this as undermining our economy in the longer term. The Obama administration in the USA is increasing its science budget and the r
On 15th January the British government approved the construction of a third runway for Heathrow Airport, Europe's busiest airport. Whilst the project still requires planning permission, it has become subject to a huge controversy particularly opposed by environmentalists. Through the expansion of He
Consumers are caught in a difficult situation. Many still have large debts that they want to clear or have less secure jobs than they had during the boom times so are unwilling to spend more. Indeed they want to save for a rainy day but are punished for doing so by very interest rates that are lower
Over the past decade many countries in what we know as the 'third world' have borrowed huge sums of money from wealthier countries in times of strife. Do these debts now hanging like nooses around countries necks? Are they preventing economic expansion and ultimately wealthier populations?
Globalisation comes in for a lot of flack from all sides. It is blamed for making the world more western, riding roughshod over other cultures. It damages the livelihood of millions, particularly of farmers but also in Manufacturing in countries like the USA. Globalisation however has many upsides,