Short-termism: The False Debate.

This paper was submitted to The Harvard Review, but was not published: The Harvard Business Review January–February 2021 includes an article by Lucian A. Bebchuk Don’t Let the Short-Termism Bogeyman Scare You in which he claims that “articles…decrying the perils of...

Bonus Culture’ holds back public investment

Financial Times – Letters, 23rd October 2020 Martin Wolf is correct that more investment is essential if we are to get the economy growing again (“The threat of long economic Covid looms”, Opinion, October 21). He claims to have the support of the IMF in...

The Impact of the Bonus Culture on the UK Economy

World Economics • Vol. 21 • No. 3 • July–Sept 2020, 1st October 2020 Key Points • The decline in UK tangible investment since 2000 has led to a sharp decline in labour productivity and the trend growth rate of the UK economy. A similar decline in the US was caused by...

Investment and Unemployment

The future is unknown, but we should not count on being improbably lucky. Covid-19 has increased the need for a large increase in business tangible investment. This was necessary before the pandemic and has because essential to prevent a large rise in unemployment....