Economics Archives - Emile Woolf writes

“Understanding Economics in an hour”

UNDERSTANDING ECONOMICS IN ONE HOUR 1 – Overview Looking about us, what we see is the passing show. Despite every appearance of reality, it is ephemeral, ever-changing. It is Prospero’s “insubstantial pageant”. What we see is a “result” of something else, always a manifestation rather than a “cause”. It is difficult to discern the real […]

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European Union – what membership entails

ECONOMIC PERSPECTIVES – 28 EUROPEAN UNION – WHAT MEMBERSHIP ENTAILS The responses to my last essay in this series prompts me to develop and clarify some of the questions it raised. It addressed the way in which important Brexit issues have been clouded by uncertainty, exacerbated by predictably negative forecasting by supposedly neutral authorities, generating […]

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ECONOMIC PERSPECTIVES – 27: “The EU unvarnished”

  EUROPEAN UNION – UNVARNISHED Prelude on terminology Uncertainty surrounding the outcome of Brexit has caused the British pound to be devalued against the main international currencies. British importers must therefore pay more pounds to buy the foreign currency required to pay for their imports of finished goods and components. Higher prices, in effect. But […]

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RECENT TAX HYSTERIA [Economic Perspectives – 25]

Economic Perspectives – 25 REFLECTIONS ON RECENT TAX HYSTERIA [Early December 2017] Where we are now on the subject of taxation – clueless and lost! Widespread “tax-dodging” is the surest sign that our “tax-raising” process is seriously defective! Why doesn’t our existing tax system raise enough money to meet all government commitments? The reason is […]

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Emile’s review of Godfrey Bloom’s book “The Magic of Banking”

Customer Review 5.0 out of 5 stars A salutary insight into the fallibility of economic thinking at every level. By Emile Woolf  on 4 September 2017   Format: Paperback Godfrey Bloom delivers an apocalyptic message on the consequences of misguided economics in an age of unreason. It carries little ‘good’ news, and its explanation of the ‘bad’ […]

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Economic Perspectives – 24 “PROTECTIONISM IS SIMPLY “PATRONAGE” IN A MODERN GUISE

ECONOMIC PERSPECTIVES – 24 [Early-November 2017] PROTECTIONISM IS SIMPLY “PATRONAGE” IN A MODERN GUISE Protectionist policies are by no means confined to trade deals. Yet, in every one of their guises they appeal for popular support from local commercial interests, pleading fairness, justice and equity to justify their anti-competitive political demands. Rational economic principles take […]

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Economic Perspectives 22

ECONOMIC PERSPECTIVES – 22 Currency fables – the devaluation myth The notion persists that a particular country’s economic hardship may be alleviated by an official devaluation of its currency on the basis that this would make its exports cheaper to overseas buyers. Let’s therefore pretend, just for the sake of debate, that all countries in […]

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Institutionally Gullible – loan-loss provisions

“ACCOUNTANCY” – JUNE 2017 Banks, criminality and accounting: end of the road?  All those banks and other financial institutions that have gone bust, or been bailed out, over the past 20 years demonstrate that the sector’s corporate conduct has been wayward, to put it mildly. That these dodgy outfits are located in the UK, USA, […]

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