GDP is a flawed measure of output
Gross Domestic Product (GDP) has many flaws, some of which are well-known. It ignores unpaid work, for instance, including work done, mainly by women, caring for young children, the elderly, the infirm...
View Articlereforming the economics curriculum
Students of economics are in revolt – again. A few years ago, even before the crisis, they established an “autistic economics” network. After the crisis, in 2011, a Harvard class staged a walkout from...
View Articlebanking in crisis-prone USA and dull Canada
Mark Carney, governor of the Bank of England, is rightly admired for his handling of the global financial crisis. But perhaps the key fact is not that he is Mr Carney, but that he is Canadian, and the...
View Articlethe simple economics of increased longevity
Thanks to technological change, life expectancies everywhere are rising. John Kay this that this is wonderful -a demographic change to be welcomed rather than feared. Achieving these extended lifespans...
View Articlelobbyists and sex workers
This post is not about lobbyists’ payment to sex workers for services rendered (nor vice versa). Rather, it is about difficulties both groups face in legal collection of fees for services rendered....
View Articlewomen in the world of finance
British economist John Kay thinks that banks would improve if more women were in charge. The most powerful posts in the financial world are held by women. Janet Yellen chairs the US Federal Reserve,...
View ArticleFT columnist John Kay defends liberal education
It is a mistake to focus basic education on job-specific skills that a changing world will render redundant in a few years. The objective should be to equip students to enjoy rewarding employment and...
View Articlethe job of the economist
Most business people think that the job of the economist is to predict whether exchange rates will go up or down. Economists are not very good at predicting whether exchange rates will go up or down,...
View Articleadvice from bankers for investment of retirement savings
FT columnist John Kay, in this weekend’s newspaper, has published a long, fascinating extract from his new book, Other People’s Money: Masters of the Universe or Servants of the People? The essay is...
View ArticleJohn Kay on economic controversy
I am a great fan of FT columnist John Kay, but his column this week is a profound disappointment. It has deservedly attracted a large number of negative comments. Mr Kay’s errors are serious – serious...
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