Public sector finance Archives - Emile Woolf writes

EP-105: Conventional wisdom is never the truth

ECONOMIC PERSPECTIVES – 105 Conventional wisdom maybe – but it’s never the truth Whether it’s the belief that commitment to more infrastructure spending by the state will create more jobs; or that import tariffs are needed to protect domestic industries; or that currency manipulation can boost exports; or that a statistical figment called GDP can […]

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EP – 106 When suppliers prefer their goods to our pounds

WHEN SUPPLIERS PREFER THEIR GOODS TO OUR POUNDS [ECONOMIC PERSPECTIVES 106 – OCTOBER 2021]   Following his interview with Vladimir Lenin on the subject of inflation in 1919, John Maynard Keynes quoted the Russian as having said “The best way to destroy the capitalist system is to debauch its currency”, and Keynes included Lenin’s comment […]

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GROWTH? NOT IN THIS BUDGET – an appraisal of the March 2021 budget

Economic Perspectives – 96           [EMILE WOOLF -7th March 2021]   GROWTH? NOT IN THIS BUDGET   We have just endured yet another March Budget in which the Chancellor sets out his strategy for balancing the nation’s expenditure plans with its available resources, principally from taxation. They are, of course, his spending priorities, and his tax-raising […]

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Post-Covid Conjectures

Economic Perspectives – 94 POST-COVID CONJECTURES – FEBRUARY 2021 EMILE WOOLF While speculation is rife about what the post-Covid economy will look like, we must remember that economic fundamentals are not susceptible to alteration. They may adapt to changed circumstances, but no external modifications in society can affect the laws and principles themselves – for […]

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Layman’s guide to the coming currency collapse – January 2021

THE ECONOMIC CHASM CONFRONTING US – A LAYMAN’S ASSESSMENT The huge economic harm caused by Covid-19 is seen and experienced clearly and directly on a daily basis. Less obvious is the damage wrought in every welfare-driven democracy whose government finds itself in the dual-role of protector and saviour. Today expectation and dependency are the norm, […]

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SOME UNSEASONAL REFLECTIONS ON MONEY

ECONOMIC PERSPECTIVES 92 – DECEMBER 2020 SOME UNSEASONAL REFLECTIONS ON MONEY Several comments and questions on my last essay deserve a thoughtful response, which is the theme of today’s essay. You may recall its references to today’s dependency culture – the “expectation syndrome” that fuels the size and cost of welfare programmes as the state’s […]

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Audit independence: only one solution will succeed [SEPTEMBER 2020]

The “flawless” audit exists in the mind alone. Regulators such as the Financial Reporting Council (FRC) are therefore having to deal with the many that, in varying degrees, are flawed. However, the FRC’s practice of allowing so many years to pass before reporting their findings and punishing the culprits undoubtedly weakens its authority and blunts […]

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THE GULF BETWEEN RICH AND POOR

EMILE WOOLF – ECONOMIC PERSPECTIVES 66 We are well into the protest season. The long run-up to the election period has been characterised by one protest after another – no-deal Brexit, climate change, arms sales, Tommy Robinson, police brutality, capitalism, Trump’s visit, fracking, Catalan, Hong Kong and Eritrean sympathisers, and so on … and on. […]

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Determination by Boris – economics!

ECONOMIC PERSPECTIVES – 59 CHALLENGES AND OPPORTUNITIES – AS NEVER BEFORE GOING POSTAL – 29 July 2019 The pace of change on the political spectrum is truly bewildering for mere onlookers; and as for the usual clutch of clueless columnists and TV “interviewers”, no matter how measured their misguided speculations may sound, the tripe they […]

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