2018 - Emile Woolf writes

“WHAT GOVERNMENT CAN – AND CANNOT – DO” [EP 43]

EMILE WOOLF – GOING POSTAL [19-11-2018 – EP43] “DEBUNKING ECONOMIC MYTHOLOGY – PART 6” “WHAT GOVERNMENT CAN – AND CANNOT – DO” Whenever confronting a puzzling situation, it’s worth asking how it came about. When doing this I usually find it helpful to write about it and, given my personal orientation, my way through the […]

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The fallacy of job creation

    DEBUNKING ECONOMIC MYTHOLOGY – PART 4   THE FALLACY OF JOB “CREATION”   My colleague Steven Spencer has reminded me of an anecdote relayed by the owner of a brand new Corvette sports car.   A bystander speculated: “I wonder how many people could have been fed with the money that sports car cost?” […]

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Correspondence on affordable housing policy with son-in-law, Steven Maddocks

On 30 Oct 2018, at 14:33, Steven Maddocks wrote: Dear Emile An enjoyable read, thanks! Very clearly argued and easy to follow – especially when familiar themes (QE, income tax, VAT) emerge! Two questions: I’m not clear how a land-value tax would fix the problem of buy-to-leave. Aren’t absentee owners of empty properties still liable […]

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If I were Prime Minister

FRESH START AFTER BREXIT – GOING POSTAL 29-10-18 [EP41] One of last Monday’s blog-readers, “WinstonSmith”, challenged me to describe what I would do if, after Britain has finally left the EU, I were to be appointed Prime Minister! Well, I can’t miss out on an invitation like that. Recognising that a fresh approach requires a […]

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Reaping the Whirlwind – lessons of 2008 and the rich/poor divide

ECONOMIC PERSPECTIVES – 39 REAPING THE WHIRLWIND My wife and I have just returned from a couple of weeks in the USA. Among many sources of stimulation, debate between friends and family threw up a number of key issues of economic interest – two in particular stand out, and they are closely related: (i) Whether […]

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THE FUTILITY OF INSTITUTIONAL MEDDLING

GOING POSTAL – 22 OCTOBER 2018 / EP 40 DEBUNKUNG ECONOMIC MYTHOLOGY – PART 3 “THE FUTILITY OF INSTITUTIONAL MEDDLING” My mission for this week A number of readers who responded to my post last Monday, on “inflation and interest rate suppression”, asked me to explain the roles of the International Monetary Fund (IMF), the […]

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DEBUNKING ECONOMIC MYTHOLOGY – PART 2  

GOING POSTAL – 15 OCTOBER 2018 DEBUNKING ECONOMIC MYTHOLOGY – PART 2   <EP4> THE INFLATION CONUNDRUM Typically, the general public confuses any economic phenomenon with its manifestation. Both are thought of as the same thing. For example, the phenomenon “inflation” is assumed to mean the same thing as its manifestation, which is rising prices. The […]

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Economic Perspectives 35 (Part two) – the Scourge of Credit Expansion

GOING POSTAL 20/8/18 [Part 1 of “This time it will be different” appeared as Going Postal last week.] PART 2 THE SCOURGE OF CREDIT EXPANSION – THE SYSTEM’S DEMISE COULD BE SOONER THAN YOU THINK The monetary conjuring trick employed after the last crisis, described in Part 1, required central banks to purchase government bonds […]

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Reading the signs of the coming crash

1 – THIS TIME IT WILL BE DIFFERENT – Yes, far worse! [ECONOMIC PERSPECTIVES – 35] The last crash 2007/2008 Before the last financial crisis in 2007/2008 sub-prime mortgages were all the rage. The idea was that if mortgage lenders put a pot-pourri of mortgages in a parcel, the risks attaching to mortgages at the […]

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Economic Perspectives: EU Membership – understanding the rules

EU MEMBERSHIP – UNDERSTANDING THE RULES While combatants wrestle over potential outcomes of the Brexit debate, we should recognise the part played in all these shenanigans by fear, borne of uncertainty. Many warnings against the dire consequences of leaving the EU have an emotional flavour not rooted in economic logic, while some Brexiteers counter such […]

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