The Martin Hutchinson Place
The primary purpose of religion is not economic, but over the centuries religion has had a huge effect on society, and hence on economics. In the Dark Ages religion preserved learning (very economically positive!) then in early modern Europe the pendulum swung so that religious wars and Catholic obscurantism retarded the development of the Catholic […]
In Western countries, we have assumed since the late eighteenth century that technological advances will continue to increase our living standards, and that any living standards convergence with emerging markets will be overwhelmed by greater prosperity for all. About five years ago I questioned this view in the short term, believing that modern communications technology […]
David Cameron’s unexpected and admirable victory last week has produced a Conservative government with an overall majority in the House of Commons and an obligation to arrange a referendum on British exit from the EU by 2017. Cameron undoubtedly intends to get as good a renegotiation deal from the EU as possible, and then put […]
Capitalism has never existed in its perfect from. Even in the late eighteenth century when Adam Smith wrote, apart from a number of mediaeval holdovers, there was the East India Company, which Smith himself regarded as a monster of corruption and government meddling. Similarly Pierpont Morgan regarded pure unfettered capitalism as inherently wasteful, and preferred […]
The U.S. Congress is being asked to give President Barack Obama full “fast track” negotiating authority for the Trans Pacific Partnership, supposedly a free trade agreement with 11 other mostly wealthy Pacific nations. Yet when you examine the Wiki-leaked version of TPP which is all we have, it is far more notable for the draconian […]
“The Gods of the Copybook Headings, I notice, outlast them all” wrote Rudyard Kipling in 1919. He also made the point that there are frequent periods when those gods appear to be asleep. There are a number of copybook headings that sensible policymakers consistently followed before 2008, which have systematically been ignored since. They are […]
Fifty years ago, we all knew what home life would be like in the 21st Century – the Jetsons (admittedly set in 2062) showed us that it would include robot maids taking away the drudgery of cleaning, cooking and dishes. Yet somehow that future never arrived, or at least it hasn’t yet. I would suggest […]
Without being too cynical, the proposed U.S.-Iran treaty seems unlikely to extinguish Iran’s nuclear ambitions in the long run. I would argue that Iran is less dangerous than is believed by the neocon community – with Pakistan and North Korea in the mix, it probably ranks only third among risks of nuclear outbreak. However that […]
Charles Jenkinson never travelled to the American colonies. Nor did he quite reach the top of British politics, though he was rewarded for his efforts with the Earldom of Liverpool and his son was Prime Minister for almost fifteen years. Yet as a middle-ranking junior minister he had an enormous effect, critical to the progress […]
The government and the main opposition party in the British election due on May 7 have agreed to promise no increases in the two basic rates of income tax, nor in the rate of Value Added Tax. Thus 75% of British tax capacity has been ruled off limits. This does not however mean that either […]