Japan does not have an investment problem

Andrew Smithers & Pelham Smithers Financial Times – Letters, 16th September 2019 Sir, In an article in Tuesday’s Financial Times Richard Koo claims that Japan’s economy suffers from inadequate demand because business investment is being depressed as a result...

The NTV Model for Total Factor Productivity

World Economics • Vol. 20 • No. 2 • April–June 2019, 1st July 2019 Introduction. This paper revises and extends my previous one on TFP * in which I proposed that the NTV model should be preferred to those which follow the current consensus approach. I include in this...

The Problem of Economic Incompetence.

Inequality, as measured by incomes, has fallen in the UK over the past 20 years. This will probably come as a surprise to many as the debate on inequality has become more strident as the situation has improved. The problem is that incomes have stagnated. Our sense of...

Privatisation of utilities has benefited everyone

Financial Times [In Letters] , 28th September 2017 Sir, Ignorance shown by those who have had responsible jobs is disturbing and that a former director of the EU Commission for water policy should be mystified by the benefits of privatising natural monopolies is a...