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
Our society is breeding a whole generation of young people who do not expect to achieve anything productive in their lives. Graduate students are applying for jobs that, previously, would have gone to somebody with A-levels. Those with A-levels are applying for the jobs for people with no qualificat
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
It seems that all people talk about these days is the recession. Why is this? Does ordinary Joe Bloggs really notice interest rates and global economic situations? Those who were previously oblivious to banking systems when things were going well, now seem like experts in the ‚Äúeconomic down turn‚Ä
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
The conservatives have pledged to introduce tax breaks for married couples if they are elected. There has been much confusion around the policy, and has been roundly dismissed by Labour and the Liberal Democrats as "social engineering"
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‚Äôs 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
Currently the personal tax allowance over a tax year is set at ¬£6,475. Many feel that this doesn't go far enough for those on the lowest incomes, and that people earning less than 10,000 pounds a year should be exempt from paying Income tax. The Lib dems have advocated raising the personal tax allo