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	<title>John Kay</title>
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		<title>Why lashing governments to the mast will always prove futile</title>
		<link>http://www.johnkay.com/2012/02/22/why-lashing-governments-to-the-mast-will-always-prove-futile</link>
		<comments>http://www.johnkay.com/2012/02/22/why-lashing-governments-to-the-mast-will-always-prove-futile#comments</comments>
		<pubDate>Wed, 22 Feb 2012 11:32:14 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[Article]]></category>
		<category><![CDATA[Accountability]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[fiscal policy]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8402</guid>
		<description><![CDATA[Governments will in the end always put voters ahead of prior commitments or external obligations. That democratic imperative has costs and benefits – but, overall, the benefits of popular accountability far exceed the cost.]]></description>
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		<title>Basketball shows high banker pay not a slam dunk</title>
		<link>http://www.johnkay.com/2012/02/15/basketball-shows-high-banker-pay-not-a-slam-dunk</link>
		<comments>http://www.johnkay.com/2012/02/15/basketball-shows-high-banker-pay-not-a-slam-dunk#comments</comments>
		<pubDate>Wed, 15 Feb 2012 11:01:16 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[Article]]></category>
		<category><![CDATA[Ethics]]></category>
		<category><![CDATA[ideology]]></category>
		<category><![CDATA[Theory]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8389</guid>
		<description><![CDATA[The highwayman who offers “your money or your life” leaves you free to choose – in a sense. There is a spectrum, not a sharp distinction, between free exchange and coercion.]]></description>
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		<title>Money, like hat-wearing, depends on convention, not laws</title>
		<link>http://www.johnkay.com/2012/02/08/money-like-hat-wearing-depends-on-convention-not-laws</link>
		<comments>http://www.johnkay.com/2012/02/08/money-like-hat-wearing-depends-on-convention-not-laws#comments</comments>
		<pubDate>Wed, 08 Feb 2012 12:33:05 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[Article]]></category>
		<category><![CDATA[Scotland]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8384</guid>
		<description><![CDATA[Legal tender is a concept with no practical relevance. The currency that is accepted is the currency people are willing to accept.

]]></description>
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		<title>Intelligence Squared</title>
		<link>http://www.johnkay.com/2012/02/07/intelligence-squared</link>
		<comments>http://www.johnkay.com/2012/02/07/intelligence-squared#comments</comments>
		<pubDate>Tue, 07 Feb 2012 12:22:09 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[Regulation]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8397</guid>
		<description><![CDATA[On the 7th February, John took part in an Intelligence Squared event entitled, &#8216;What hope for the economy?&#8217;, in which Evan Davis grilled a panel of eminent economists and leading figures from the world of business and finance. They discussed the economic crisis, banking regulation and the future of capitalism. You can watch the full debate here.

]]></description>
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		<title>Global Brief Interview</title>
		<link>http://www.johnkay.com/2012/02/07/global-brief-interview</link>
		<comments>http://www.johnkay.com/2012/02/07/global-brief-interview#comments</comments>
		<pubDate>Tue, 07 Feb 2012 12:13:55 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Business]]></category>

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		<description><![CDATA[John was interviewed recently by Global Brief, an international affairs magazine that covers politics, business and culture. They discussed competitive advantage, the wealth of firms and the future of global business. To read it, click here.
]]></description>
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		<title>The pound is a poison pill for an independent Scotland</title>
		<link>http://www.johnkay.com/2012/02/01/the-pound-is-a-poison-pill-for-an-independent-scotland</link>
		<comments>http://www.johnkay.com/2012/02/01/the-pound-is-a-poison-pill-for-an-independent-scotland#comments</comments>
		<pubDate>Wed, 01 Feb 2012 00:26:43 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[Article]]></category>
		<category><![CDATA[Scotland]]></category>
		<category><![CDATA[Value]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8370</guid>
		<description><![CDATA[Currency is a confidence trick: its value depends entirely on the belief that it has value.]]></description>
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		<title>The Limits of Consistency and Rigor, and Why Economics Needs Eclecticism</title>
		<link>http://www.johnkay.com/2012/01/31/the-limits-of-consistency-and-rigor-and-why-economics-needs-eclecticism</link>
		<comments>http://www.johnkay.com/2012/01/31/the-limits-of-consistency-and-rigor-and-why-economics-needs-eclecticism#comments</comments>
		<pubDate>Tue, 31 Jan 2012 11:20:21 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8375</guid>
		<description><![CDATA[On the 31st January, the Institute for New Economic Thinking (INET) interviewed John to discuss the current state of economics. John suggests that economics has focused too much on axiomatic and deductive reasoning and has been constrained by the simplifying assumptions that such an agenda imposes. The first part of the interview is here. To watch the rest, you [...]]]></description>
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		<title>When capitalism and corporate self-interest collide</title>
		<link>http://www.johnkay.com/2012/01/25/when-capitalism-and-corporate-self-interest-collide</link>
		<comments>http://www.johnkay.com/2012/01/25/when-capitalism-and-corporate-self-interest-collide#comments</comments>
		<pubDate>Wed, 25 Jan 2012 09:02:55 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[Article]]></category>
		<category><![CDATA[Competition]]></category>
		<category><![CDATA[Rent]]></category>
		<category><![CDATA[technology]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8364</guid>
		<description><![CDATA[Adam Smith had not imagined a world in which the Wealth of Nations would cross the world digitally at the click of a mouse. Nor had he envisaged one in which legislation would be drafted by paid lobbyists.]]></description>
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		<title>Public Administration Select Committee</title>
		<link>http://www.johnkay.com/2012/01/24/public-administration-select-committee</link>
		<comments>http://www.johnkay.com/2012/01/24/public-administration-select-committee#comments</comments>
		<pubDate>Tue, 24 Jan 2012 23:40:32 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8358</guid>
		<description><![CDATA[On the 24th January, John appeared in front of the Public Administration Committee to give his views on strategic thinking in government. Watch full coverage here.

]]></description>
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		<item>
		<title>A real market economy ensures that greed is good</title>
		<link>http://www.johnkay.com/2012/01/18/a-real-market-economy-ensures-that-greed-is-good</link>
		<comments>http://www.johnkay.com/2012/01/18/a-real-market-economy-ensures-that-greed-is-good#comments</comments>
		<pubDate>Wed, 18 Jan 2012 09:30:58 +0000</pubDate>
		<dc:creator>John Kay</dc:creator>
				<category><![CDATA[Article]]></category>
		<category><![CDATA[ideology]]></category>
		<category><![CDATA[Markets]]></category>
		<category><![CDATA[Theory]]></category>

		<guid isPermaLink="false">http://www.johnkay.com/?p=8348</guid>
		<description><![CDATA[Our intuition is that a centrally planned allocation of resources will be more efficient than an uncoordinated one. In a market economy, that error constantly leads us to overestimate the economic advantages, and longevity, of large companies.
]]></description>
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