Archive for May, 2007

Let’s remodel the World Bank »

The departure of Paul Wolfowitz as President of the World Bank has been celebrated by many in the NGO sector. They did not support his original appointment, issuing press releases with titles like “Christian Aid condemns Wolfowtiz nomination”. The World Development Movement described it as a “truly terrifying appointment”. Even the less shrill NGOs were […]

The 21st Century’s dividing lines »

Yesterday’s intellectual battles involved left against right. They were between Communists and Anti-Communists; between those who wanted to nationalise the “commanding heights” of the economy and those who wanted to privatise them; between Thatcherites and the likes of Arthur Scargill and Michael Foot. But in today’s world, the language of left and right is outdated. […]

Quote unquote: Milton Friedman on why imports are good »

“Another fallacy seldom contradicted is that exports are good, imports bad. The truth is very different. We cannot eat, wear, or enjoy the goods we send abroad. We eat bananas from Central America, wear Italian shoes, drive German automobiles, and enjoy programs we see on our Japanese TV sets. Our gain from foreign trade is […]

Big picture economics »

Blow the Whistle Sunday is a campaign day (20 May) in which hundreds if not thousands of churches across the UK will participate. Churches are being encouraged to politicise their message and use prayers and sermons to denounce free markets and free trade. One example of what the campaign is suggesting churches read out in […]

Unskilled immigrants mean doctors and merchant bankers can go back to work »

One of the arguments of the anti-immigration lobby in the UK is that a limited number of skilled immigrants is OK, but that we should not welcome unskilled workers. It’s claimed that unskilled workers push down the wages of the native population and are a drain on the taxpayers. As such, some people want to […]

Quote unquote: Michael Novak on “social justice” »

“The trouble with ’social justice’ begins with the very meaning of the term. Hayek points out that whole books and treatises have been written about social justice without ever offering a definition of it. It is allowed to float in the air as if everyone will recognize an instance of it when it appears. This […]