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 229 Articles

The Bank of England has developed a mythical stature – it’s time to burst it

October 20, 2021

The UK, along with the rest of the Western world, has just lived through a period of low inflation. In the 25 years since the mid-1990s, inflation has averaged just 2 per cent a year. It is enough to double the price level every 35 years, but a far cry from the double-digit rates seen [...]
Bail outs for businesses in strife only gloss over the truth, it’s time to face reality

October 13, 2021

The price of both oil and gas has doubled across the world in the last year. The price of crude oil is at $84 a barrel for the first time in three years. As a result, fuel of every kind, for every purpose has become more expensive. The public has reacted in the most extraordinary [...]
Universities have sown their own demise with blended learning and short courses

October 7, 2021

The start of autumn has seen the start of the university term for students since time immemorial. This time round of course, the ritual of hauling luggage round the country to the halls of residence has not quite been on the same scale as usual. Some universities, including members of the prestigious Russell Group, are [...]
Hikes to national insurance funds a level of public services we can’t afford

September 15, 2021

The government’s plan to increase National Insurance has sparked the predictable furore. The pressures to raise taxes to pay for the level of public services the electorate have come to expect is hardly new. The welfare state was created immediately after the Second World War. For a time, the financial demands were held in check. [...]
A service economy and shrinking workforce is the driving force of low economic growth

September 8, 2021

Extinction Rebellion’s fortnight of protests have only hardened existing beliefs and positions on both sides of the debate. But a book by Dietrich Vollrath of the University of Houston suggests that there may be much broader support for a low or even zero growth agenda than even XR might imagine. Vollrath does not address this [...]
Labour shortages make light work of fears of a post-Brexit unemployment surge

September 1, 2021

In the two decades before the Brexit referendum, there was a large increase in the number of people moving from the EU to the UK. In the mid-1990s there were less than one million EU citizens living in the UK. By the mid-2010s, this had risen to 3.6 million. The bulk of the increase came [...]
Science has been overrun with politics – it’s time to take it back

August 25, 2021

At the onset of the Covid pandemic in February 2020, the pages of the Lancet, a very prestigious medical journal, carried a statement eulogising China and the efforts it had already made to deal with the virus. For the luminaries who signed the statement, no praise could be too high for the Chinese. They had [...]
From Covid deaths to Usain Bolt: statistics are never black and white

August 18, 2021

Who is the greatest 100 metre male runner of all time? The answer seems obvious, even if you lack sporting common knowledge, it is only a quick Google search away. Usain Bolt’s time of 9.58 seconds is unchallenged. Both Tyson Gaye and Yohan Blake are quite away behind with records of 9.69. This year’s Olympic [...]
The influencer economy: online ranking systems are a purveyor of inequality

August 13, 2021

To the victor the spoils. This well-known phrase might be thought to relate to the recent Olympics. Except that it is not a really accurate description of the Games themselves. True, the gold medallist gains more kudos than the silver or bronze. But at future athletics meets, for example, all three can expect an increase [...]

UK economy set to grow despite rising energy costs

What London losing athletics to Nairobi tells us about future World Cup and Olympic bids

XPeng G6: The Electric SUV with Business Appeal

By: Paul Ormerod

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