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  • The myth of peak oil

    posted to David Smith's on Sat 15th Jun 13

    A few years ago, I was regularly ambushed by peak oil enthusiasts, who inisted that global oil production was either at or beyond its peak. That peak, it was said, either occurred in 2005 or in 2008-9. My response was...

  • Lessons from Sweden in assembling a recovery

    posted to David Smith's on Sun 5th Aug 12

    My regular column is available to subscribers on This is an excerpt. Think today about two countries, both in Europe but not in the euro. They should, in theory, be facing very similar circumstances. But one country, having...

  • Meanwhile, in the real world

    posted to David Smith's on Tue 15th May 12

    The argument that very low gilt yields mean the government should be borrowing a lot more to fund capital or other spending has been around for a while, though nobody knows how much more borrowing it would take to trigger...

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  • Drumbeat: June 15, 2013

    posted to The Oil Drum - Discussions about Energy and Our Future on Sat 15th Jun 13

    The Shrinking Road, Part 1: Have We Hit 'Peak Cars'?BOULDER, Colo. -- Remember the concept of "peak oil"--that the world will soon achieve the maximum rate of petroleum extraction possible, if it hasn't already? Now the question may be have we reached an era

  • Assorted links

    posted to Marginal Revolution on Sun 12th Aug 12

    1. The culture that is Japan there is no great stagnation.2. Tyler Cowen’s unusual final exam.3. Is labor productivity lower than we think?4. Why has Sweden had a good recovery?5. Facts and fictions of D.C.’s gentrification.

  • The Costs of Debt Finance: Jonathan versus David

    posted to mainly macro on Mon 21st May 12

                    Recently David Smith of the Sunday Times and Jonathan Portes of the National Institutehad a blog-spat about what a debt financed public investment programme would actually cost. Jonathan suggestedthat