Monetary policy in an independent Scotland – currency union and beyond

| 13/08/2014 | 1 Comment
Monetary policy in an independent Scotland – currency union and beyond

By Michael Nevin   As debate continues to rage around the vexed question of a currency union between an independent Scotland and the rest of the UK, two questions need to be addressed.  How would a currency union work? And, equally pertinently, what would happen if it didn’t work or could not be made to […]

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rUK needs a Plan B for its old bike

| 12/08/2014 | 0 Comments
rUK needs a Plan B for its old bike

“If your ride your bike like that, you’ll fall off and hurt yourself. Then where will you be?” Even now, I can hear my mother’s declamation clearly as I practised wheelies up a rotten plank propped on two wobbly bricks. False presumptions that then allow spurious follow up arguments and projections about consequential results are […]

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Currency: not a problem

| 09/08/2014 | 3 Comments
Currency: not a problem

We reproduce here a letter from Eamonn Butler, director of the Adam Smith Institute, London, to the editor of The Herald. I HAVE no wish to argue for or against independence, but as an economist I would like to separate the economic realities of the currency issue from the political bluster that obscures them. The […]

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Slaughter in Gaza

| 08/08/2014 | 3 Comments
Slaughter in Gaza

BBC News bulletins talk routinely about the “war” or “the conflict” in Gaza. Their correspondents on the ground know that there is no war in Gaza. It is a slaughter. On the one side there is an army equipped with the most sophisticated weaponry in the world: aircraft, missiles, tanks, artillery,  rockets, phosphorus and cluster […]

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A Letter to the First Minister

| 08/08/2014 | 4 Comments
A Letter to the First Minister

We are delighted to welcome Professor Donald Mackay as a contributor among the distinguished economists who write for WN and explain why Scots should vote Yes on September 18. This letter is from Professor Sir Donald Mackay, a leading expert on North Sea oil and gas ever since they came onstream in the 1970s.  He […]

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Time to free the news

| 31/07/2014 | 1 Comment
Time to free the news

Eben Wilson is the Director of TaxpayerScotland. He worked in broadcasting for twenty years and is the author of “Media, Meddling and Mediocrity” for the Adam Smith Institute. After hundreds of people recently gathered at BBC Scotland’s headquarters in Glasgow to protest against perceived “bias” in the referendum campaign, the BBC responded that its coverage […]

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Glasgow Games

| 31/07/2014 | 0 Comments
Glasgow Games

If Glasgow’s Commonwealth Games are seen to be a success, this should accelerate the long overdue return of confidence to a city which one hundred years ago was a beacon of industrial achievement. Then, the world beat a path to its door.  In the year 1913, 23% of all the shipbuilding tonnage launched in the […]

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Business as usual?

| 29/07/2014 | 0 Comments
Business as usual?

After the downing of flight MH17, with Moscow accused of arming the separatist rebels in Ukraine,  one might have expected the British government to be a shade circumspect about its commercial relations with Russia. In fact, the House of Commons Committee on arms exports says that a large increase in the sale of armaments to […]

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Conversation piece

| 23/07/2014 | 4 Comments
Conversation piece

After almost two years of the Referendum debate, I still find myself from time to time confounded by the strange questions with which I am confronted by apparently deep-seated ‘no’ voters. Recently, more or less in innocence, I happened to remark that if Alex Salmond managed to pull off a ‘yes’ vote he would enter […]

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Gordian knot of imperial past

| 17/07/2014 | 0 Comments
Gordian knot of imperial past

Professor Gavin Kennedy, formerly Professor of Defence Finance in the Department of Accounting and Finance at Heriot-Watt University and Senior Lecturer in Economics at Strathclyde University Today, when the UK sends its small and still declining armed services abroad to intervene in other countries, it follows the familiar postures of the foreign policy it pursued […]

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UK’s extravagant defence provision

| 14/07/2014 | 0 Comments
UK’s extravagant defence provision

Professor Gavin Kennedy, formerly Professor of Defence Finance in the Department of Accounting and Finance at Heriot-Watt University and Senior Lecturer in Economics at Strathclyde University. The outbursts in the media by the UK defence establishment on whether Scotland will vote for independence in September are all highly negative.  Spokespersons for the Ministry of Defence […]

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Danny Alexander, The Red Queen and ‘Impossible Things’

| 08/07/2014 | 0 Comments
Danny Alexander, The Red Queen and ‘Impossible Things’

Sir Donald Mackay, the respected Scottish economist questions the UK Treasury’s inaccurate forecasts, arguing here that Westminster’s calculations are not credible. Beware politicians offering, over many years, a ‘Union Dividend’ of £1,400 for every man woman and child in Scotland. Such was the promise of Danny Alexander when he came to Edinburgh to explain the Treasury […]

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No “black hole” for oil forecasts

| 07/07/2014 | 1 Comment
No “black hole” for oil forecasts

One of Scotland’s most respected economists has questioned the UK Treasury’s oil and gas forecasts, arguing that Westminster’s calculations are ill-informed and “wide of the mark”. The extent of Scotland’s future energy revenues has become a key battleground in the independence debate. Professor Sir Donald Mackay, a former chairman of Scottish Enterprise who advises Reform […]

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Scottish Water – a business success story

| 04/07/2014 | 0 Comments
Scottish Water – a business success story

There are many business success stories, but Scottish business success stories are not as common as they used to be.  Success stories about Scottish public sector businesses are as rare as hen’s teeth.  Here is one that deserves to be better known.  It’s about the water industry. Water is our largest industry.  If all the […]

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The right to elect a government

| 03/07/2014 | 0 Comments
The right to elect a government

By Jim Walker, founder and managing director, Asianomics, Hong Kong.  Today the United States celebrates Independence Day.  A few days ago another former British colony, Hong Kong, marked its Establishment Day – the day it was handed over to Mainland China in 1997.  The word ‘celebration’ would be highly inappropriate in this particular instance. Over […]

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