By: Paul Ormerod

Paul Ormerod is an economist at Volterra Partners LLP, author and an Honorary Professor at the Alliance Business School at the University of Manchester

All 218 Articles

Beneath the jargon, Bernanke delivers devastating critique of the Bank of England

April 17, 2024

Leading economist Ben Bernanke has exposed the flawed modelling and out-of-date technology behind the Bank’s failures to forecast inflation, says Paul Ormerod Last week, Ben Bernanke, former chairman of the US Federal Reserve Bank and Nobel Laureate in economics, published his review into the process of forecasting and policymaking at the Bank of England. You [...]
Scotland’s risible hate crime law is an incentive for the police to fail

April 10, 2024

It’s easy to laugh at the latest example of SNP incompetence, but new hate crime laws will have serious consequences – not last for the police’s ability to solve actual crimes, says Paul Ormerod The Scottish hate crime law has been a prominent feature in the media ever since it came into force just over [...]
As Derby’s historic rail industry declines, it should look to Redcar for a model of letting go

April 3, 2024

From steelworks to freeport, Redcar's redevelopment offers a model for moving on which Derby may wish to follow, writes Paul Ormerod.
The big challenge isn’t funding public services, it’s making them productive

March 27, 2024

With the public sector no more efficient than it was in the late 1990s, it's time to start seriously scrutinising our public services, writes Paul Ormerod.
What if the OBR is too optimistic about growth?

March 21, 2024

Chancellors preparing for Budgets fret over their fiscal headroom, but what matters in the long-term is the trend rate of growth. And if the OBR has it’s projections wrong, there will be big consequence for the next government, says Paul Ormerod The Office for Budget Responsibility (OBR) published its economic and fiscal outlook document in [...]
For once, Humza Yousaf has set an example other politicians should follow

March 15, 2024

In overriding the advice of “experts” and channelling aid to Gaza, Yousaf did what politicians are elected to do, says Paul Ormerod Humza Yousaf, the First Minister of Scotland, does not often attract plaudits. But last week he overrode the advice of his officials. Shock, horror. Surely Sir Humphrey and the “experts” always know best. [...]
Tech is in turmoil – but there is an upside

March 6, 2024

There’s no need to panic about cutbacks and uncertainty around AI, capitalism is all about change and innovation, says Paul Ormerod The Greek god Chronos, known as Saturn to the Romans, was notorious for eating his own children. Something similar seems to be going on within the tech industry. Tech giants such as Google, Microsoft [...]
Interest rates aren’t as influential as you think

February 28, 2024

Andy Haldane’s criticisms of the Bank of England’s persistence with higher rates are misguided. Just as near-zero rates following the financial crisis were hardly a stimulus to growth, the more recent actions of the MPC can’t be said to be ‘crushing the economy’, says Paul Ormerod Criticising the Bank of England has become fashionable in [...]
Ricardian Equivalence and why Britain’s really in a recession

February 21, 2024

The intriguing factor governing low household spending isn't mortgages or energy prices, argues Paul Ormerod, but saving...
There’s a solution to dire public services: make our public sector more productive

February 14, 2024

If productivity can be raised, more services can be provided to the public for any given level of spending, writes Paul Ormerod

Hospitality leaders ramp up pressure on Labour to slash VAT

Everton ‘surprised and angered’ at losing £40m legal case with Burnley

How The Macallan mastered the long game

By: Paul Ormerod

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