History can explain falling prices

A historical perspective may help to stem panic among investors


Our gift to the future will be unpaid bills

Those of us who care for posterity cannot but be concerned by our legacy of debt

Lesson for politicians from Sage of Omaha

Buffett’s readiness to wait before acting should be noted by western leaders shaken by Paris events

How financiers reversed equality

Growth of banking sector has helped turn back egalitarian trend

No answer to the Scottish question

It is easier to put the blame on insufficient powers and cash than to identify solutions

Crowd-pleasing is no substitute for wise regulation

It is in the nature of a crowd to turn on anyone who dissents from average opinion

Generational inequality and house prices

This injustice is different from the concerns of Occupy Wall Street or Piketty’s readers

Scotland’s taxes can only go up

The pressure to do something will be hard to resist

Capitalists sold the mills and bought the future

If capital is indeed back as Piketty says, it is in a different way

Generic pictures of airplanes including the A380 and Boeing 747 queuing at Heathrow Airport to go with Colin Mathews, CEO of Heathrow Airport I/V.Slideshow selection
©Charlie Bibby/FT

Choice of airport divides London’s skies

The future of civil aviation in the UK’s capital city hangs in the balance

The battle for Scotland has just begun

So long as there is any grant from the UK government, the cry will be that it is not enough

Second-richest man was poorer than us

I would rather have antibiotics than gold plate, and I suspect Rothschild would have felt the same

The folly of immigration fears

Immigration, like Europe and Scotland, is for many the focus of a more general discontent

Mob justice is a dangerous business

Politicians resemble gangsters roaming around extorting money from unpopular individuals

Live longer – and thank economics

Life-saving advances are the greatest benefit of technological change

Human frailty will outlive payday control

The trick seems to be to allow enough legal leeway to keep social harm at modest levels

Governing by bluster leaves us in the cold

Glib declarations aimed at the media leave the energy industry confused and supply in doubt

Scots’ No starts rather than ends debate

The fiscal settlement will not be able to survive the scrutiny it will now receive

Scotland can prosper whether Yes or No

Debate over the financial impact of independence is demeaned by posturing on both sides

A poser for those Scots with a vote

Much of the debate has been about economic issues that are far from conclusive either way


John Kay John Kay has been writing a column on economics and business since 1995. He is currently a visiting professor at the London School of Economics. He also had a career in the policy world which established the Institute for Fiscal Studies as one of the most respected think tanks, and a business career.

John has published many books, including Foundations of Corporate Success (1993), The Truth About Markets (2003) and The Long and the Short of It: Finance and investment for normally intelligent people who are not in the industry (2009). His latest book, Obliquity: Why our goals are best achieved indirectly, was published by Profile Books in March 2010.

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