Undercover Economist

My weekly column in the Financial Times on Saturdays, explaining the economic ideas around us every day. This column was inspired by my book and began in 2005.

Is the modern economy a bit… samey?

Last week’s column, with the aid of a pink romantasy bookshop, discussed the way a healthy economy offers “disciplined pluralism”. Discipline means that sooner or later, uneconomic ideas fail. Pluralism means that many different ideas are attempted, the economy...

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I was wrong about Bad Girl Books

There are some ideas so self-evidently bad that as you see the seeds being sown, it’s all you can do to restrain yourself from staging an intervention. So it was with Bad Girl Books, which earlier this year announced plans to open a short distance away from Oxford’s...

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Random is as random does

In the genius’s playground that was Bell Labs in the 1950s, Claude Shannon, the father of information theory, built an outguessing machine. The machine’s task was simple: a human would choose one of two levers, left or right, and the machine would guess which lever...

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Nudge or tax? At last, some data

It all seems very long ago, but there was a time when David Cameron was most famous for his enthusiasm for behavioural public policy, better known as “nudges”. In a TED talk released a few months before Cameron became the UK’s prime minister, he began by asking, “How...

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The Big Power of Small Annoyances

In a small black box, in a cupboard just out of reach of my desk, I keep one of my few treasured possessions: a set of Oblique Strategies cards, signed by their co-creator, the artist and musician Brian Eno. The cards, each carrying a brief instruction, are a prompt...

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Explain it to me like I’m ten

In 2012, the creator of the xkcd cartoon Randall Munroe unveiled Up Goer Five — a detailed diagram of the Saturn V rocket, annotated using only the most common 1,000 (sorry, “ten hundred”) words in the dictionary. It was a viral hit, as was the follow-up book, Thing...

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Lessons from a shipwreck

Four hundred years ago, in a Stockholm shipyard, work began on Vasa, the pride of the Swedish navy. King Gustavus Adolphus was at war, and gave orders to his shipwrights to build something impressive. In accordance with the king’s instructions, Vasa was ambitiously...

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