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It was only recently that I recognised the adoration Britain’s leading financial newspaper has for the man often dubbed the thinker behind the Occupy movement. The Financial Times published a long extract from David Graeber’s new book, The Utopia of Rules, on the front page of its weekend Life and Arts section. I quickly realised it […]

For those interested in my more technical articles here is a piece I wrote for the March issue of IPE magazine (it can also be read on the IPE website here). Smart beta has had a foothold in the foreign exchange market for years, although the approach is less pervasive than those of other asset […]

I feature on a discussion in Worldbytes’ TV “Don’t shout at the telly” slot. Topics discussed include inequality and quantitative easing (QE).

Those who see themselves as practical students of the real world are condemned to never understand it. To grasp how society works demands an entirely different approach. Simply responding to what happens to be in the news is doomed to yield superficial and one-sided results. The recent calls by economics students for their tutors to […]

The pious war against tax dodging is much more dangerous than any schemes for evading or avoiding tax. When individuals or corporations act to minimise their tax payments the worst that can happen is that the authorities lose billions in tax revenue. In contrast, the stakes in the sanctimonious offensive against tax dodging are much […]

It is one of the most bewildering discussions in a confusing area. Deflation is welcomed by some economists but condemned by others as a grave threat. Some basic distinctions are necessary to understand the debate. Let’s start by outlining recent developments. The eurozone’s inflation rate fell by 0.2 per cent in the year to December […]

Although the claim is frequently repeated it is untrue that a debate about economic equality is underway. To those who follow it carefully it should quickly become clear that something else is happening. Take the recent discussion at the World Economic Forum in Davos. A televised debate involving some of the main protagonists helps make […]

The contemporary obsession with the super-rich often combines an intense interest in breathtaking bling with a quiet loathing of those with spectacular wealth. Both ingredients in this peculiar cocktail were on display in BBC2’s recent Meet the Super Rich season of documentaries. Rich, Russian and Living in London focused on the lavish lifestyle of wealthy […]

The last thing I expected to be thinking about after a long and boozy Christmas lunch was economics. However, my first ride in an Uber taxi set me thinking. For those who have not used Uber, which operates in over 50 countries, it is service that allows users to order taxis using their mobile phone. […]

One of the great paradoxes of 2014 was the apparent mismatch between falling oil prices and military conflict in strategic regions. Normally fighting in the Middle East and the Ukraine would be expected to push up oil prices. Only this year the price has fallen sharply since June. According to the US Energy Information Administration […]