Economics Articles

Essays on topical issues, latest developments in UK and global economies, and answers to readers questions

Creative destruction

Posted on May 27, 2016

Definition of creative destruction. This refers to the process of how capitalism leads to a constantly changing structure of the economy. Old industries and firms, which are no longer profitable, close down enabling the resources (capital and labour) to move into more productive processes. Creative destruction means that the company closures and job losses are …


Should UK stay in EU or leave? (personal view)

Posted on May 26, 2016

A few readers have asked me about where I stand on UK, EU and Brexit. These are some personal notes – not necessarily economic (or coherent!) I will probably vote Remain, though not with any particular enthusiasm. I do identify as both British and European. I would like to see Britain act closely with European …


How much does the EU cost the UK?

Posted on

Finding the cost of EU membership to the UK is not straightforward. If you Google ‘Cost of EU membership’ you will see many different figures reflecting different methodologies. For example, those keen to leave the EU may include all the gross costs, plus estimated bureaucratic costs and not include any benefits. Those wishing to highlight …