Anybody with any knowledge of economics should feel uneasy at the sight of a country where half of recorded economic activity is conducted by the state. Are such semi-socialist societies operable, and if so, for how long? Read the article via Deceits and delusions – Some thoughts on the euro-crisis […]
Read MorePost Tagged with: "Prosperity"
The European Union’s failure by its own standards
The 2011 Legatum Prosperity Index includes a number of insights. The fourth article is “The European Crisis: Time to Rethink Integration?” In a sidebar, the author explains that the average confidence in a European Government is 12% lower than the Index average. Legatum suggests that European electorates feel increasingly excluded […]
Read MoreWishing everyone a prosperous new year
After so much economic turmoil, the traditional wish for a prosperous new year can be given with considerable vigour. The 2010 Legatum Prosperity Index (PDF) – “the world’s only global assessment of wealth and wellbeing” – showed that entrepreneurship and opportunity are the primary keys to prosperity, that they correlate more […]
Read MoreDid I have a Freudian slip when asking about the EU at PMQs?
In the Daily Mail, Quentin Letts reports that I called for the UK to quit the EU altogether at PMQs yesterday. Some colleagues also thought I said “leave” not “lead”. Hansard reports my intended words: Steve Baker (Wycombe) (Con): Does my right hon. Friend agree that it is time for this country […]
Read MoreAutumn Statement chart of the day: tax and spending
The economic facts behind the Autumn Statement, in as far as they are known or forecast, are available in the Economic and Fiscal Outlook from the Office for Budget Responsibility. Table 4.7 provides forecast current receipts. Table 4.18 provides total managed expenditure. So, here’s a chart of current receipts (i.e. tax) […]
Read MoreFreedom in Education: the profit motive
NB: this post is by Tim Hewish, my Parliamentary Researcher, and the views expressed are his own. I recently attended the E. G. West Memorial Lecture delivered by Professor James Tooley and sponsored by the IEA on the topic of for-profit schooling. He noted that the word profit is highly […]
Read MoreSpending – up. Borrowing – up. Debt interest – up.
Via National Statistics Online – Public Sector Finances, the trajectory of cumulative public borrowing this year more or less matches last year: See also Deficit plan under pressure as UK borrows £14bn more in June. Here’s the tragedy: while my constituents and people across the country are seeing real reductions in services […]
Read MoreEntrepreneurship and opportunity are the primary keys to prosperity
It’s my 40th birthday. I found myself reflecting on life and what it means to promote prosperity, in the broadest sense. That led me to the Legatum Institute‘s Prosperity Index. The Prosperity Index provides a global assessment of wealth and wellbeing. The key findings are fascinating. In particular, “Entrepreneurship and opportunity correlate more […]
Read MoreOn capital, international development and raising the poor out of poverty
Via The Economic Role of Saving and Capital Goods – Mises Institute (emphasis mine): What distinguishes contemporary life in the countries of Western civilization from conditions as they prevailed in earlier ages – and still exist for the greater number of those living today – is not the changes in the […]
Read MoreThe Legatum Institute
On Thursday, I had lunch with the remarkable Legatum Institute. Their vision: To advance human liberty and a more prosperous and secure world, through researching and promoting the integration of human dignity, liberty, and development. To encourage the adoption of sound policies grounded in a holistic understanding of the human […]
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