The false economy
Displaying 21 - 30 of 32 articles
What should we do with producers who routinely deliver faulty goods and services? Producers of cars, food, medicines, aeroplanes and even financial products are forced to compensate injured parties, recall…
In times of austerity, one of few things that seems to be booming is the trade in wheelbarrows. At least, company directors at major corporations will need them to collect vast amounts of remuneration…
In these insecure times people are easily persuaded to buy insurance for flights, cars, credit cards, loans, plumbing and almost anything else. But often customers find they haven’t got what they paid…
Iceland has sent four former directors of its bank Kaupthing to prison for fraud. But the chances of similar legal action happening in the UK are low, where fraud investigators have a poor record. The…
What are the chances that in the face of public criticisms, big business would curb its tax avoidance practices? Well, not much, as evidenced by a case decided by the US Court of Federal Claims. Salem…
The UK accountancy watchdog has barked. The Financial Reporting Council (FRC) has fined Deloitte & Touche £14 million for failures relating to the demise of MG Rover. The report says Deloitte was engaged…
Isn’t it interesting how governments go through the rituals of promoting competition, but little actually changes? The latest example is the UK Competition Commission’s report on the UK auditing industry…
The UK House of Commons Public Accounts Committee is examining some of the financial affairs of Prince Charles, heir to the British throne. The Committee should be concerned that the Duchy of Cornwall…
The G8 summit in Lough Erne was preceded by much hype and promises about action on tax avoidance and corporate secrecy, but it has delivered little. The leaders’ communiqué commits governments to nothing…
One of the recurring themes in social sciences is the “capture” of the state by economic elites. This enables them to advance their economic interests, shape public policies and choices. This is nowhere…