An amazing piece of financial analysis has been circulating by email recently. If you had purchased $1,000 worth of AIG stock a year ago, you would have $44.34 left. With Wachovia, you would have had $54.74 left of the original $1,000. With Lehman, you would have had $0.00 left. But if you had purchased $1,000
Last month I bought from eBay a strange little electronic gadget called a Chumby, an item not yet on sale outside the United States. Last month I bought from eBay a strange little electronic gadget called a Chumby, an item not yet on sale outside the United States. It worked happily for ten minutes and
One of the most interesting books from the last year has been Revisiting Keynes: Economic Possibilities for our Grandchildren (MIT Press, £20) — a reprint of a 1931 essay by J.M. One of the most interesting books from the last year has been Revisiting Keynes: Economic Possibilities for our Grandchildren (MIT Press, £20) — a
I recently saw a photograph of a street vendor’s stall in Argentina. The menu reads simply Orange Juice $5. Jugo de Naranja $4. Here unsuspecting Anglophones are paying a premium of 25 per cent for not knowing Spanish. It’s a practice known to economists as price discrimination — in other words setting a price in
A friend of mine, a professor at an Ivy League university, specialises in research into transgenic mice, learning how DNA modifications affect intelligence and memory. A few years ago, after some genetic tinkering, he created a batch of mice of quite spectacular dimwittedness. They were useless in the maze, ditzily wandering about with no sense
In their now famous book Nudge, self-described ‘paternalistic libertarians’ Richard Thaler and Cass Sunstein cite this new paint as an example of ‘feedback’ — the notion that people will make better choices when their decisions have rapidly visible results. If you’ve tried typing on an outdated PC, where characters take seconds to appear on screen,
Toby Young in last week’s Spectator remarked on the peculiar malice, as he saw it, of the online comments posted in response to his articles. He has a point. The people who post comments are not the same reverential folk who form a paper’s traditional print readership. On the other hand, at a time when
A few months ago I wrote a Spectator article suggesting that the government spends far too little money and time on advertising and persuasion, despite the (to me, at any rate) obvious observation that changing behaviour using information or even subtle persuasion is always preferable – on both economic and philosophical grounds – to the
I am still waiting for an enterprising research company to publish honest readership figures for British news-papers. Not the boring stuff about what we read at the breakfast table or flourish at our desks, a decision driven by badge value. No, what I want to know is which papers people reach for in private when
Alongside the vast fuel tank which powers the Space Shuttle into orbit are two spindly tubes known as Solid Rocket Boosters (or SRBs). Their shape is not ideal: their manufacturer, a firm called Thiokol, had intended them to be fatter, but was constrained by the width of a horse’s rear end. It appears that Roman
Once again it’s the time of year when Spectator readers start loading up their cars with Andrex, Gentleman’s Relish and Marmite in anticipation of the annual drive to France. Do I have any advice to give? Unsurprisingly I do. For the first hour across the Channel, I quite like to listen to Nostalgie FM. This
A 1980s cartoon from Private Eye shows a teenage boy, dressed in animal skins, staring intently into the dancing flames of a small fire. Behind him, bearded and leaning on a club, stands his scowling Neanderthal father, horrified: ‘When I was a boy we had to make our own entertainment.’ The great Douglas Adams believed
‘Linda works miracles in the kitchen while Trevor is ubiquitous with the cup that cheers.’ This sentence has haunted me for 15 years. It’s from a parody of the typical reader’s review in The Good Food Guide, probably by Craig Brown. I still quote it gnomically when asked whether some restaurant or other is any
Those of you who saw his article a few weeks back will be pleased to hear Kelvin MacKenzie took a remarkable second place in his local council elections. Already the climbdown over parking charges has begun: the cost of a day’s parking at Weybridge Station is suddenly not £5 but £4. It’s the same story
If the climate-change debate has accomplished anything, it has proved people never say sorry. When I was about 12 the families of the people who now wince at every gramme of carbon we burn carried on their cars a yellow sticker reading ‘Nuclear Power — No Thanks’ (on 2CVs the sticker was rumoured to be
My article last week (‘Mad Men are taking over the world’) led me to be accused of elitism by one of the magazine’s online readers. What riled him was my suggestion that, rather than spending £6 billion on speeding up the Eurostar journey by an hour, it might have been better to spend a few
Inspired by the new American hit TV show, Rory Sutherland — The Spectator’s own ‘Wiki Man’ — says that the capture of the Brown government and almost everything else by advertisers and marketers could be a great leap forward. Persuasion is better than legislation As an adman myself, I am always delighted when I see
One distinction between the private and the public sector is that the former generally has an incentive to offer customers a variety of levels of service, while the latter doesn’t. That’s why you can get a pizza delivered to your home when you’re feeling fine, but you can’t get a doctor to visit you when
Last summer we picked up a hire car at Inverness. As I was dumping the rental paperwork inside the glove compartment I unearthed a forgotten pair of sunglasses so hideous in design it suggested that the previous renter had been either a porn star or a German, perhaps even both. That he was at least
As you probably know (to your cost), Amazon purchases above a certain value incur no delivery charge. This offer works because so many people buy extra books to lift their order above the free-postage threshold. Predictably, in every country in which the retailer has launched the scheme, there has been an immediate and sustained uplift