Warwick Lightfoot's Substack

Warwick Lightfoot's Substack

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Macroeconomics

How the British Economy has changed over the last fifty years: the British Economy today is different to the economy in 1979 and has…
The modern British economy benefits from markets that work better than the 1970s, but shares challenges of slower economic growth and public expenditure…
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Warwick Lightfoot
Are British Taxpayers saving up to pay future taxes?
Is the British economy exhibiting neo-Ricardian Equivalence responding both to public debt and public spending?
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Warwick Lightfoot
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Economists at official institutions do not like President Trump and have allowed their antipathy to him to colour their economic analysis
Effective monetary policy, strong corporate and household balance sheets, cheap energy, expansionary fiscal impulse, a tech sector to die for and a…
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Warwick Lightfoot
Mathematics and Economics or Black Magic and Alchemy?
Economic data is complex, not reliable for causation. Economists should heed Romer’s Mathiness warnings and Keynes, Friedman on statistical alchemy.
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Warwick Lightfoot
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US Capital Account and International Finance
US economy has it all: modern productive services, science, and technology, capacity to mobilise the savings of the world to finance its investment, and…
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Warwick Lightfoot
Structure of the US Balance of Payments and Capital Account
Dissecting the US Current Account: Trends, Transformations, and the Path from Hyperglobalization
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Warwick Lightfoot
Trump Administration’s Tariff Policy and the case for Unilateral Free Trade
Countries should embrace Ricardo’s Comparative Advantage, open markets, remove tariffs and impediments to trade, give effect to their self interest…
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Warwick Lightfoot
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Industrial Revolution, inventing Political Economy, relative 20th century British economic decline and the creation of a modern…
It made Victorian Britain egregiously rich, but its costs stimulated a political antithesis that provoked a generation of socialist policies and a…
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Warwick Lightfoot
UK’s Spring Economic Statement focuses on Redundant Fiscal Rules, Neglecting falling Productivity, Profits, the falling Rate of Return on…
UK has supply-side problems arising from high public spending, taxation and labour market regulation that deliver weak productivity and falling profits
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Warwick Lightfoot
Kaput: German and European Economic Institutions set up for economic success sixty years ago are now in a Structural Slump
Germany’s economic miracle ended years ago, Germany and Europe’s Mercantilism, Rigid Fiscal Rules and resistance to technology need to go
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Warwick Lightfoot
Challenge of over expanded public sectors: in the UK, Europe and North America
Elevated public expenditure crowding out private sector growth, is a problem in advanced OECD economies, the UK offers an egregious example, the EU…
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Warwick Lightfoot
Labour’s share of national income rises in the UK, while profitability falls
Unlike other economies wages as a share of GDP have risen in the UK since the mid-1990s, while profits have fallen, reflecting a flexible labour market…
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Warwick Lightfoot
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