Year: 2010

Once we figure out the actual cost of red tape, we can issue red tape certificates to government departments. And here is the trick: Just like environmental pollution certificates, red tape certificates for government departments would be set at levels lower than their current level of pollution.

There is no doubt that China’s resilient economic growth has prevented the economic crisis from becoming an economic catastrophe for the world. Yet among the dark sides of China’s rising economic power is an astonishing disrespect for intellectual property.

Ken Henry has shown that he is no longer willing to confine himself to the role of a senior public servant. For this reason, it would be better for him seek a new career and run for a political office instead.

The social result of migration could be counter-intuitive: it may very well strengthen Australian patriotism, not undermine it. It may reinforce social cohesion, not destroy it.

There are growing concerns that the Iberians will be the next casualties of the economic crisis.The widening spread between Spanish securities and German bunds as well as the increasing costs of credit default swaps on Spain’s savings banks both point in the same direction. Markets are betting against Spain and its financial institutions.

Given the sad, unworldly image of economics (or ‘the dismal science,’ as it is often referred to), it is refreshing to see that there are still economists out there who have something worthwhile to say. Even if it is only about soccer.

Dalrymple’s book is strangely self-contradictory. He mourns the cultural, social, political and economic decline of Europe while questioning the severity of the two fundamental causes of that decline. The New Vichy Syndrome is still worth reading. Only a brilliant thinker like Dalrymple could manage to write a seriously flawed book that still offers scores of profound insights to provoke further thought and reflection.

If international markets or European politicians want to know the future of the euro, they better not ask Germany’s constitutional court. Especially on Greek affairs, the Oracle of Delphi may give a much clearer answer.