2017 - Page 3 of 5 - Emile Woolf writes

Economic perspectives 14 – unilateral free trade is natural

ECONOMIC PERSPECTIVES 14 The natural condition of international commerce is unilateral free trade [I acknowledge the inspirational work of, respectively, Professors Don Boudreaux and Patrick Barron in preparing this instalment of EPs.] Preface In the above title, the words “international” (obviously implying ‘more than one’) and “unilateral” (meaning ‘one-sided’), may appear to be self-contradictory. But, […]

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Consequences of inflationary folly

  ECONOMIC PERSPECTIVES 11 INFLATIONARY FOLLY HAS ITS CONSEQUENCES Responses to previous instalments of my “Economic Perspectives” include queries on why unbridled credit expansion by the main central banks in USA, UK, EU and Japan does not appear to be reflected in a commensurate rise in the general price level, affecting all sectors of the […]

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Brief chronology of my own economics studies

  Letter to an old friend: Dear Ronald Many thanks for taking such time and trouble to set out your thoughts on your Millennium Trust, et al, and for sending the attachments for me to review. It must be close to 30 years since we have been in touch! The items by Sir Kenneth Jupp seem […]

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Economic Perspectives 19: Does Labour respect sanctity of private property?

ECONOMIC PERSPECTIVES 19 Does Labour respect sanctity of private property? Lessons to be discerned from the tragic Grenfell Towers fire transcend the immediate questions on cladding, stairwells, sprinklers, alarm systems, escape routes, incandescent materials and faulty appliances. Far more has been revealed than a recital of fire regulations in need of modernisation. The political exploitation […]

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Economic Perspectives 18: “No way to run a railroad”

ECONOMIC PERSPECTIVES 18 NO WAY TO RUN A RAILROAD Overseas visits are always instructive – they provide a fresh insight into the workings of economic principles within a different framework. The consequences of human action will, of course, vary by reference to circumstances – but the natural laws determining those outcomes are, in themselves, always […]

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Exchange of views on Brexit: Garrick Homes and Emile

From Garrick Homes’ report on Gents Lunch in Languedoc July 2017: “Brexit. One factor behind Teresa May’s electoral disaster is a growing recognition among British voters of the folly of leaving the EU’s single market and customs union, and an increased propensity of younger ones (who always opposed it) to vote. It was suggested that […]

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Why revised Ethical Standard will not restore public trust

‘ACCOUNTANCY’ – AUGUST 2017 Why the FRC’s ethical standard fails to restore public trust Ethics is far more than an incidental feature of the auditing framework. It is actually its very essence. In virtually every instance of audit failure that finds its way into the public domain, whether it concerns undetected management fraud, money laundering, […]

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FRENCH REGULATORY FARCE

ECONOMIC PERSPECTIVES 17 French regulatory farce Just for fun, let’s indulge in a grand generalisation and say that in a dictatorship, say in North Korea or Venezuela, even China, everything is forbidden unless explicitly allowed; and, in a democracy, everything is permitted unless explicitly prohibited. Having just returned from a 3-week sojourn in France, I […]

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“Genuinely Terrible Economic Idea”

With apologies for taking the risk of upsetting LOTS of people…………. [Picking up Matthew Lynne’s lead today] This election campaign excels in spawning candidates – no, not for elected office, but for a prize in the Competition for advocating the worst GTEI (Genuinely Terrible Economic Idea). The Green party has just come up with its […]

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Economic Perspectives 15 – “Demand stimulus unmasked”

There is nothing intrinsically wrong with being “contrarian” when dispelling a myth – especially one which conventional wisdom believes to be true. On 30th March 1981, for example, 364 academic economists famously sent a round-robin letter to The Times, roundly condemning the budget that Margaret Thatcher and her Chancellor, Geoffrey Howe, had just delivered. They […]

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