The party of Menzies died last week. It had been a party built on the bourgeois values of responsibility, love, hope, charity, prudence, justice, fortitude, thrift, diligence, industriousness, reliability, trustworthiness, courage, civility, generosity, hospitality, duty and honour. It no longer holds these beliefs.

All organisations cohere around an identity. They identify their beliefs, their values and their aspirations. These are the things that attract adherents and guide the organisation on how to do what it wants to do. Once an organisation ceases to uphold its beliefs, it dies. It has n...

February 25, 2016

Bernie Sanders candidacy for Presidency of the United States has put Socialism back on the political agenda. How could such a failed ideology garner so much support? Particularly from the young.

Mises said Socialism wouldn’t work. And it didn’t. He pointed out that without the price mechanism it is impossible to allocate resources efficientlyand to make choices between economic alternatives. He explained that seventy years before the Berlin Wall fell.

The students who today support Sanders were not alive to witness the failure of communism in post-War USSR and Eastern Europe.

On 9 November 1989,...

July 14, 2015

I exhort the politicians and bureaucrats of Europe to think again, to do better. The proposed Greek bailout entails too much intervention into the Greek economy and too many restrictions on the sovereignty of the Greek people. It will not work. The difficulties will endure for too long. It will all unravel.

 

A much better and more effective solution is possible. The Europeans should employ the well-proven and effective economic theory of Quantitative Easing .

 

I am surprised Paul Krugman and Joseph Stiglitz have not already recommended this.

 

The European Central Bank should simply print another...

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