LATEST NEWS FROM PARTNER CAP X
5 July 2017
Margaret Thatcher knew that without security there is no prosperity - What the rest of the world can learn from Hong Kong - Why the world needs more immigration - The Left is wrong about Kansas – tax cuts matter - Is social mobility beyond the government’s control?
Today, at the Margaret Thatcher Conference on Security, leading global figures have been discussing the threats to the West. Lord Saatchi, the conference's host, kicks off a special edition of the CapX briefing with an article on Thatcher's foreign policy vision, and why confronting evil ideologies requires you to have an ideology of your own.
In 1949, Hong Kong's GDP per capita was $4,120. By 2015 it was more than $55,000. This must surely be one of the greatest economic successes of all time. Not least because embracing economic liberalism not only improved locals' lives (see Stat of the Day), but made the power of the markets clear to mainland China.
The consensus among economists about the benefits of liberal immigration policies is overwhelming. Immigration - whether skilled or unskilled - makes everyone better off. And yet the global trend is away from open borders. If only the politics would catch up with the economic evidence.
The partial reversal of Kansas Governor Sam Brownback's cuts to income tax has been jumped on by those keen to discredit supply-side economics and disprove the idea that lower taxes can lead to economic growth. Unsurprisingly, however, these claims are yet another case of left-wing overreach. So what does Kansas actually tell us about tax?
A new report from the Social Mobility Commission calls for radical government action to combat the UK's lack of mobility. However, it fails to ask an important question: how much impact can government policies really have? Given that social mobility rates hardly vary between political systems and historical periods, the answer appears to be not very much.
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