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2026

AI – Putty-Putty or Hard-Baked Clay?original ↗
2 May 2026

2025

Coming to Terms with Fiscal  and Trade Deficitsoriginal ↗
25 Oct 2025
Tangible and Intangible Capitaloriginal ↗
3 Jul 2025
How Share Prices Fluctuateoriginal ↗
2 Jan 2025

2024

Box X: Pensions, Savings and Investment original ↗
6 Nov 2024
Risks facing central banks: action and inactionoriginal ↗
28 May 2024
Interesting Timesoriginal ↗
14 Apr 2024
How Economic Theory Went Wrongoriginal ↗
1 Mar 2024

2023

Improving Economic Policyoriginal ↗
3 Jul 2023
Economic Management in a multiple Equilibria Economy PIDE Webinaroriginal ↗
27 Jun 2023
Extending the liabilities’ time horizon is key to pensions reformoriginal ↗
14 Jun 2023
Zombie Companies, Low Investment and Low Interest Ratesoriginal ↗
20 Jan 2023

2022

Podcast: The Road to Economic Stability ft. Andrew Smithersoriginal ↗
27 Jul 2022
The Stock Market Model: A New Foundation for Economic and Monetary Policy.original ↗
1 Jun 2022
An economist’s warning for stock market investorsoriginal ↗
14 Apr 2022
What you thought you knew about interest rates and the market is wrongoriginal ↗
30 Mar 2022
Book review: The Economics of the Stock Marketoriginal ↗
28 Mar 2022
US – The High Risk of Another Financial Crisis.original ↗
5 Jan 2022

2021

Letter: UK Universities should postpone pensions strikeoriginal ↗
18 Nov 2021
Not Cyclical but Secular.original ↗
1 Oct 2021
Japan: Investment and Growthoriginal ↗
1 Sept 2021
Letter: Equity Risk is not in step with ‘random walk’ theoryoriginal ↗
19 Jul 2021
Corporation Taxoriginal ↗
1 Jul 2021
Paul Krugman on Corporation Tax, Right first time – Wrong this time.original ↗
30 Apr 2021
Corporation Taxoriginal ↗
22 Apr 2021
The Hill Review – and London’s prospects as a global centre for capital-raisingoriginal ↗
25 Mar 2021
Letter: Britain’s bonus culture is bad for productivityoriginal ↗
2 Mar 2021
Short-termism: The False Debate.original ↗
1 Feb 2021

2020

Savings Glut or Investment Dearth: Rethinking Monetary Policyoriginal ↗
1 Dec 2020
Bonus Culture’ holds back public investmentoriginal ↗
23 Oct 2020
The Impact of the Bonus Culture on the UK Economyoriginal ↗
1 Oct 2020
Investment and Unemploymentoriginal ↗
27 Jul 2020
Zombies & Creative Destructionoriginal ↗
13 Jul 2020
A Schumpeterian view of zombie companiesoriginal ↗
29 Jun 2020
The Economics of Covid-19original ↗
26 May 2020
Investment, Productivity, and the Bonus Cultureoriginal ↗
21 May 2020
The Debate Over the Depreciation of Intangible Capitaloriginal ↗
1 Apr 2020
Pandemic response should liberate flawed investment policyoriginal ↗
17 Mar 2020

2019

Corporation Taxoriginal ↗
12 Nov 2019
Japan does not have an investment problemoriginal ↗
16 Sept 2019
The NTV Model for Total Factor Productivityoriginal ↗
1 Jul 2019

2018

A Critical Review of Thomas Piketty’s Capitalism in the 21st Century.original ↗
23 Oct 2018
Andrew Smithers’ comments on the report by the Institute for Public Policy Research on “Economic Justice”original ↗
4 Oct 2018

2017

The Problem of Economic Incompetence.original ↗
31 Oct 2017
Privatisation of utilities has benefited everyoneoriginal ↗
28 Sept 2017
Inflation and Expectationsoriginal ↗
1 Sept 2017
Crisis and subsequent weak growth had different causesoriginal ↗
17 Aug 2017
Building a New Testable Model to Estimate Total Factor Productivity.original ↗
20 Jul 2017
Paper for the Industrial Strategy Commission.original ↗
27 Feb 2017

2016

Corporate Governance Reformoriginal ↗
6 Dec 2016
US Economic Policyoriginal ↗
19 Nov 2016
Why equity returns do not take investors on a ‘random walk’original ↗
14 Nov 2016
Demand solution won’t suit a supply problemoriginal ↗
15 Aug 2016
Answer to productivity “puzzle” is low investmentoriginal ↗
7 Jun 2016
How Managerial Incentives Affect Economic Performanceoriginal ↗
20 Apr 2016

2015

Executive pay holds the key to the productivity puzzleoriginal ↗
28 May 2015
Action This Dayoriginal ↗
1 Apr 2015
Racing away? Correcting the damage done to wage growth by perverse management incentivesoriginal ↗
27 Mar 2015

2014

Getting the economy goingoriginal ↗
1 Sept 2014
Abenomics – Myths, Rhetoric and Realityoriginal ↗
20 May 2014
Investing for Income: Executive pay, shareholders and the economyoriginal ↗
2 Apr 2014
Remuneration – It’s Broke, So Fix Itoriginal ↗
1 Mar 2014

2013

Easy, queasy money.original ↗
2 Dec 2013
Folly of the Fed: Why Janet Yellen May Be a Dangerous Choice.original ↗
15 Nov 2013
Economic policy must reflect business behaviour.original ↗
26 Jul 2013
Abenomics should take aim at structural reformoriginal ↗
17 Jun 2013
Retrenchment or Stagnation: Lessons from Japan’s ‘Lost Decades’.original ↗
3 May 2013
Abenomics.original ↗
7 Apr 2013

2012

If hopes were dupes, fears may be liars.original ↗
19 Nov 2012
The Change in Corporate Behaviour.original ↗
1 Oct 2012
Toolkit for eurozone survival.original ↗
1 Mar 2012
What Davos could do with bonuses.original ↗
23 Jan 2012

2011

Skewed view of cash raises questions.original ↗
5 Dec 2011
The Japanese Government Must Intervene to Stop Yen Strength.original ↗
28 Sept 2011
The World Could Do Well, But….original ↗
27 Jul 2011
Watch out if Wall Street falters.original ↗
20 Jun 2011
What should the IMF, ECB and EC do about Greece?original ↗
6 Jun 2011
Tricky route to a soft landing.original ↗
1 Jun 2011
Large scale investment overseas is key for Japanese companies.original ↗
16 May 2011
Japan’s Fiscal Deficit.original ↗
3 Mar 2011
Deficit cuts should take priority.original ↗
21 Feb 2011
Tug-of-war over equity ratios.original ↗
1 Feb 2011

2010

We cannot support ever-rising debt.original ↗
29 Dec 2010
Japan’s Population.original ↗
20 Dec 2010
The Federal Reserve, Quantitative Easing and Private Sector Debt.original ↗
6 Dec 2010
Higher equity ratios unlikely to impact on banks.original ↗
30 Nov 2010
The Yen and the Misguided Policies of the Federal Reserve.original ↗
19 Oct 2010
Rebalancing the global economy.original ↗
20 Sept 2010
Keynes, Money and Debt.original ↗
21 Jul 2010
Why Banks Should Be Broken Up.original ↗
7 Jul 2010
We need to turn to equity financing.original ↗
28 Jun 2010
The importance of the Bank’s new structure.original ↗
18 Jun 2010
International savings and investment in the balance.original ↗
1 Jun 2010
It wasn’t rotten Maths, it was rotten Epistemology.original ↗
18 May 2010
The Need for More Bankruptcies.original ↗
17 May 2010
Supporters of Capitalism Should Read This.original ↗
21 Apr 2010
Low US inflation is essential.original ↗
19 Apr 2010
Bank Reform is Essential for Capitalism.original ↗
8 Mar 2010
A Slow Recovery for a Happy New Year.original ↗
18 Feb 2010
Debt and the data.original ↗
1 Jan 2010
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