Tag Archives | economics

What’s that got to do with the price of fish? The growing gap between inflation and the perception of inflation

Various Inflation Measures v2

Last week’s news that the Consumer Prices Index (CPI) rate of UK inflation has dipped below zero for the first time since official records began in 1996, and for the first time since 1960 based on equivalent historical estimates, caused a range of reactions amongst commentators and politicians. The Chancellor, George Osborne, was keen to more…

Confronting the challenge of poverty and inequality…

poverty-81827_1280

We often think that poverty is inevitable, and many people (think that they) know by itself that poverty is a cause of illness and social problems. The poor are always with us, they say, rather misreading Deuteronomy and St Matthew. Attitudes today are rather different from Victorian times, when the poor were seen as either more…

The Failings of Global Aid- is it Time to Make Charity History?

Historic charity

Walking by a lake you see a child drowning. There is no one else around- what should you do? The clear moral answer is to jump in and pull the child out without sparing a thought for potential inconvenience. It has long been argued that the same moral reasoning applies to world poverty- we must more…

Time to end the war in Afghanistan?

Yesterday was the deadliest day so far for the United States of its 10-year war in Afghanistan, as thirty members of the American special forces were killed when the Taliban shot down a Chinook helicopter. That brings the US death toll since the start of the conflict to over 1,000. The UK has lost over 300. more…

Exposing economic literacy as orthodoxy

I suspect that the tenor of the debate around the economy is going to take an ugly turn with the entry of various independents into the electoral race over the next week or two. Prior to the dissolution of the Dáil, there was the grotesque spectacle of Fine Gael and Labour facilitating the passage of more…

What Ireland did right (and what it needs to do)…

What we did right

It is difficult to believe now that one country recently sent 19 delegations to Ireland to study how well our economy was managed. The revelation that our model of economic management featured positively in political and economic discussion in countries including Estonia, Greece and Scotland may also come as a surprise. As we survey the more…

Euro crisis: The Hollow Euro

EU flag

Twice in the past century Germans have learnt, the hard way, the value of sound money. Between 1921 and 1923 the Weimar Republic, under the strain of massive WW1 reparations, fell into a hyper-inflationary death spiral. The Mark plunged in value, measured against Gold Standard Marks it fell from a ratio of 1:1 to 1:1 more…