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Paul Ormerod

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Paul Ormerod is the founding director of Volterra Consulting and the author of Why Most Things Fail.
American Policy <i>is</i> Working

American Policy is Working

Business May 26 2009, 12:39 PM ET

The recent falls in output (GDP) in the American economy are a cause for serious concern. In the six months from October 2008, the total size of the economy shrank at an annual rate of just over 6 per cent. This is faster than any comparable period since the Great Depression of the 1930s. The most serious post-war recession to date was that of the early 1980s, and at its worst, in the winter of 1981/82, the annualized fall in output was -5.5 per cent.So what has…… More »

Have economists gone mad?

Business Mar 5 2009, 4:12 PM ET

As everyone knows, the past six months or so have seem tremendous turmoil in the world economy. The most obvious example of this is in financial markets. But overall output is also now falling sharply; in countries like Japan and Germany it is falling faster than at any time since the 1930s.It seems obvious that these economies are not in a state of equilibrium, where everything flows smoothly. We are a long, long way away from any sort of equilibrium. And in the…… More »

America already saved the world once

Business Feb 12 2009, 1:51 PM ET

The wrangling persists over the desirability of President Obama's recent stimulus package. The uncomfortable fact is that America, and the West as a whole, is having a pretty grim experience. Eventually, the passage of time will restore confidence. But the problem is that there are really three separate recessions going on, all at the same time. … More »

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Where in the World? Part 3: A Google Earth Puzzle

May 25, 2012

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