Industry 4.0: How disruptive technology can rescue British manufacturing April 7, 2016 Industry 4.0 is revolutionising the way international manufacturers and construction companies approach business, but the UK has a long way to go if its industry is to keep pace with its European rivals. This new world is based on digitisation, which blurs the line between the virtual and the physical. Connected products and “smart” machines [...]
Leviathan’s tentacles: How the true size of the state is hidden from the electorate April 7, 2016 The Institute of Economic Affairs published a “Nanny State” Index last week, showing the UK was the third most meddling country in the EU for intervening in lifestyle choices around cigarettes, tobacco, food and alcohol. This reminds us yet again that the Total Intervention Index (TII) for the state includes both tax and spend and [...]
Why over-estimating the risk of terror just hands victory to the terrorists April 7, 2016 The terrible attacks in Belgium last month have further escalated fears of terrorism across Europe. As a result, policy-makers all over the continent are calling for new measures to fight extremism and populist politicians have been quick to demand the closure of Europe’s borders. But the clear risk is that the costs of such measures could [...]
Following defeat in the Wisconsin primary, has Donald Trump now lost his chance of securing the Republican nomination? April 7, 2016 Ewan Watt, a writer on state and national issues in the US (writing strictly in a personal capacity), says Yes. Not since a wounded Gerald Ford saw off a challenge from Ronald Reagan in 1976 has the Republican Party witnessed a contested convention. That might all be about to change. Even though Donald Trump still enjoys a [...]
The madness of chancellor George? The UK’s current account deficit is leading us into a debt trap April 6, 2016 In economics there are few unrelated events, so Britain’s whopping current account deficit (seven per cent of GDP) for the final months of 2015 is the latest wake-up call for bigger future problems. Deficits of this size warn of trade uncompetitiveness, but more worryingly the latest jump underscores the sharper on-going deterioration in overall UK private [...]
Competition works as cabbies up their game in the long-running battle with Uber April 6, 2016 The long-running battle between Uber and black cabs may be drawing to a civilised conclusion, and we can thank the beneficial forces of market competition for calming this mighty feud. Faced with the realisation that Uber isn’t going anywhere, the black cab industry has taken the sensible and welcome step of deciding to compete with [...]
The EU is adding fuel to the Brexit fire through new burdens on technology startups April 6, 2016 You might think, given Europe’s anaemic rate of growth and enduringly high levels of unemployment, that Brussels would be doing all it can to encourage small tech businesses to grow. After all, the evidence shows that SMEs are the motors of job creation and technology companies provide the best chance of new high-value, high-wage employment. [...]
Cab Wars: Research shows Uber is growing despite negative headlines April 6, 2016 As the London mayoral election approaches, it seems like a good time to consider Uber, a company that has divided opinion in the capital. The black cab industry has suffered since the emergence of Uber and its online app. Rows have arisen over regulation, metres and customer safety. City streets have seen several gridlock-causing protests. [...]
Why the bank bailouts are no model to follow for the struggling UK steel industry April 6, 2016 The potential closure of the Tata steel plants and the plight of Port Talbot are tragedies for those directly affected. A key question is: if the banks could be saved, why not steel? From a purely political perspective, the topic has legs. Loyal, hard working Welshmen, fearful for their families’ futures, contrasted with arrogant pin [...]
Panama Papers: Indiscriminate attacks on offshore centres fail to recognise how essential they are April 6, 2016 Indignation and outrage. This has been the default response from people across the world to the allegations made in the so-called Panama Papers. I am not surprised. The claims made following analysis of the 11.5m leaked documents from the Panamanian law firm Mossack Fonseca suggest that it might have been allowing its wealthy international clientele [...]