2022 - Emile Woolf writes

Waste not, want not – EP116

ECONOMIC PERSPECTIVES 116:   “Waste not, want not”  This proverb spells out the link between waste and impoverishment. Economic Perspectives 112 highlighted the inevitability of massive waste of public money when government expenditure is not susceptible to economic calculation. ”Would I sanction this expenditure if it was my money?” is the question that should be emblazoned on […]

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The Science of Economics has lost its way

Economic Perspectives –115 [April 2022}   THE SCIENCE OF ECONOMICS HAS LOST ITS WAY   In 1798 Thomas Malthus postulated his gloomy theory that the growth in population must always outstrip the means of subsistence needed to support it: “Population, when unchecked, increases in a geometrical ratio. Subsistence increases only in an arithmetical ratio. A […]

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FAULT-LINES IN THINKING ARE EXPOSED

ECONOMIC PERSPECTIVES – 113 [MARCH 2022]   UKRAINE CRISIS – AN OBJECTIVE ANALYSIS   Last month I wrote about the massive waste implicit in government-sponsored bureaucracy – at local and central levels. The craving for a sense of importance leads small-minded apparatchiks to seize power over others by controlling their expenditure budgets. It works both […]

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REALITY BEGINS TO DAWN

Reality begins to dawn   Shortly before the Chancellor’s Spring Statement, BBC2’s “Newsnight” featured Kirsty Wark interviewing two economic experts, one Conservative, one Labour. She asked each of them to describe the measures they would recommend to the Chancellor, Rishi Sunak. I found it difficult to follow their arguments because any semblance of clear thought […]

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Part 2 – PUBLIC & PRIVATE SECTORS: KEY ECONOMIC DISTINCTIONS

Economic Perspectives – 112 (Part 2)   [EMILE WOOLF, FEBRUARY 2022]   In Lewis Carroll’s “Through the Looking-Glass” Humpty Dumpty tells Alice: “When I use a word it means just what I choose it to mean—neither more nor less.”   Humpty’s subjective approach to verbal meanings is of little relevance to economic writing – although […]

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Economic Perspectives – 110 – CURRENCY DESTRUCTION

ECONOMIC PERSPECTIVES – 110 [DECEMBER 2021]   All this may be obvious now – but it didn’t start that way! EMILE WOOLF   Why do I persist in writing these essays on economic issues? Certainly not to influence government policy – that would indeed be a forlorn hope, despite the strength of support coming from […]

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Part 2 – Difference between public and private sectors

Part 2 – Public and private sectors: understanding the difference   In “Through the Looking-Glass” Humpty Dumpty tells Alice: “When I use a word it means just what I choose it to mean—neither more nor less.”   Humpty’s subjective approach to verbal meanings is of little relevance in the field of economic writing – although […]

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Economic Perspectives 112 – Part 1 – LIVING ON DEBT

Economic Perspectives 112 – February 2022 – Emile Woolf                                                        ——————————————– Part 1 – Idiocy repeated   Any catalogue of economic legends would of course include the 2008 visit of Queen Elizabeth to the London School of Economics, when the country was experiencing an unprecedented housing market bubble based on the irrational belief […]

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Why governments practise currency debasement – and how to cure them – Economic Perspectives – 111

Economic Perspectives 111 – 1 January 2022– Emile Woolf Why governments practise currency debasement – and how to cure them [With my gratitude to Patrick Barron for his inspiration and insights I have written on the subject of currency debasement many times, but it is now reaching crunch-time – even for the pound, dollar, yen […]

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