Who benefits from Mayism?

Chris Dillow / May 21, 2017 at 9:07 AM 158 views

Theresa May claims there’s no such thing as Mayism. I don’t know about that. What puzzles me, though, is that there don’t seem to be any obvious Mayites. To see what I mean, contrast May and Thatcher. Thatcher had two…

The fairness error

Chris Dillow / May 19, 2017 at 12:35 PM 186 views

In the Wheatsheaf last night, I was struck by an obvious injustice. The pub was charging everybody the same price for beer, regardless of their income. This is obviously unfair: why should the millionaire picking up his children from the…

The end of competition?

Chris Dillow / May 18, 2017 at 12:59 PM 58 views

For years, economists have believed that competition tends to equalize profits across firms, as inefficient firms either learn from better ones or go out of business, and as new firms enter markets and so compete away high profits. Several things,…