Author Archive

Georgist Macro-Economics and the Land Value Tax

Oct 15, 2016 Comments Off on Georgist Macro-Economics and the Land Value Tax
Brian Davey argues in Credo that the ideas of Henry George are still very relevant for economic theory. A site value tax would help to stabilise property market cycles and promote greater spatial efficiency. However, while helpful, market mechanisms like a site value tax will not, on its own, fully resolve the environmental crisis.
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Marginal productivity theory

Sep 21, 2016 Comments Off on Marginal productivity theory
This chapter of Credo, by Brian Davey, describes the “marginal revolution” of neoclassical economics. The idea of marginal productivity and payments to “factors of production” was developed for ideological reasons to counter thinkers like Marx and George. The theoretical framework learned by generations of students is contradicted by the evidence. The ideas of capital and land in neoclassical economics are incoherent.
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Who are the parasites? The radical implications of classical economics

Sep 06, 2016 Comments Off on Who are the parasites? The radical implications of classical economics
In this chapter of Credo, Brian Davey discusses the differences between classical and neoclassical economics, and the implications for taxation and the distribution of power. Those following the current controversy over taxation in Ireland should find his argument interesting.
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Fantasies of “Socialism with an iPad”?: Inventing the Future by Nick Srnicek and Alex Williams: Review

Aug 14, 2016 Comments Off on Fantasies of “Socialism with an iPad”?: Inventing the Future by Nick Srnicek and Alex Williams: Review
"Sometimes you read a book that helps to crystalize your thinking, not because you agree with it, but because you don't" writes Brian Davey, who goes on to challenge the authors' assumptions about the availability of renewable energy and the nature and potential of localism.
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The centrality of externalities to economic thinking

Jul 31, 2016 Comments Off on The centrality of externalities to economic thinking
Brian Davey argues in Credo that what economists call “externalities” are not unusual or a special case, they are ubiquitous. They are rooted in private property and the relationships of market society. The way in which non market societies protect bio-diversity through totem arrangements is described.
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The “regulation” of unconventional gas

Jul 22, 2016 Comments Off on The “regulation” of unconventional gas
This presentation by Brian Davey, made in July 2016 on behalf of Frack Free Notts, outlines the problems with the regulatory structure for unconventional gasfield development in the UK. It discusses the problem of “regulatory capture” by the industry, deceptive PR, the selective recognition of ‘experts’ and siloing of different aspects of safety (such as the environment and health).
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Economics in Darwinist mode – the competitive struggle for existence

Jun 30, 2016 Comments Off on Economics in Darwinist mode – the competitive struggle for existence
Improved competitiveness is a major goal of virtually every nation and trading bloc in the world. Both sides in the Brexit debate claimed that Britain would become more competitive if they prevailed. But where does this glorification of competition come from? Does it reflect fundamentals of human nature, or does it stem from a quasi-religious dogma that goes largely unquestioned? Brian Davey explores the roots of the obsession with competitiveness, and its knock-on effects, in a chapter of his book Credo.
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Jim Ratcliffe, Ineos and the empire of trash

Jun 11, 2016 3 Comments
Brian Davey explores the decision of Ineos, one of the world's largest chemical companies, to promote fracking. The Ineos majority shareholder, Jim Ratcliffe, claims fracking could regenerate northern Britain despite evidence that the strategy is "a mirage that would lead to a mountain of debt and a mountain of garbage".
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Consumerism, Collective Psychopathology, Waste

May 29, 2016 Comments Off on Consumerism, Collective Psychopathology, Waste
This chapter of Credo by Brian Davey discusses conspicuous consumption and the consumer society, branding and the manufacture of wants. The role of advertisers is explored as well as the way that attention grabbing has become an economic sector that affects the quality of life radically and for the worse.
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Unconventional gas field development and optimism bias: submission by Brian Davey to the UK Environment Agency

Mar 29, 2016 Comments Off on Unconventional gas field development and optimism bias: submission by Brian Davey to the UK Environment Agency
In this submission made in response to a drilling application by iGas, Brian Davey argues that the judgements made on behalf of IGas are flawed by what occupational psychologists and management theorists call “optimism bias”.
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Shale Euphoria: The Boom and Bust of Sub Prime Oil and Natural Gas

Mar 23, 2016 Comments Off on Shale Euphoria: The Boom and Bust of Sub Prime Oil and Natural Gas
In this update to his book Credo, Brian Davey argues that the shale industry, whether extracting oil or gas, has never been financially sustainable. How could this be? It seems paradoxical and defies ordinary economic logic.
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The psycho-dynamics of the financial market

Feb 19, 2016 Comments Off on The psycho-dynamics of the financial market
"When we look at the financial markets from an emotional and mental health angle, we don’t find optimal equilibrium states and rational people adapting to them. Instead, we come across a large number of unhappy, dysfunctional and disorientated people," writes Brian Davey in an excerpt from his book Credo.
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Putting moral philosophy back into economics

Jan 22, 2016 2 Comments
"The first step to putting ethics back into economics is to take centuries of PR spin out of it and describe the world as it is, not the comfortable ideas that we would prefer to believe." This article by Brian Davey can be read to get a summary overview of many of the ethical themes in Credo.
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