Alasdair Macleod

Alasdair became a stockbroker in 1970 and a Member of the London Stock Exchange in 1974. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy. After 27 years in the City, Alasdair moved to Guernsey. He worked as a consultant at many offshore institutions and was an Executive Director at an offshore bank in Guernsey and Jersey.

Articles by Alasdair Macleod

The greatest strength of a truly free market economy, where money is sound and does not corrupt prices, is the absence of cyclical action. With sound money, and consumers deciding for themselves their wants and satisfactions, having to...
This article looks at the background to Brexit negotiations and concludes that Britain is negotiating from a position of strength, while the EU is increasingly in a position of financial difficulty. Not only will the European Commission be...
This article gets to the heart of why central banks’ monetary policy will never succeed. The fundamental error is to regard economic cycles as originating in the private sector, when they are the consequence of fluctuations in credit. It...
With sound money and free markets, the evolving production of businesses increases the purchasing power of money over time.

We learn, out of the blue, that “the Eurozone is performing well, but with opinions divided on the causes,...
We learn, out of the blue, that “the Eurozone is performing well, but with opinions divided on the causes, doubts linger over whether it is a sustainable recovery” (Daily Telegraph, 19 April). We are also told that economic growth in the...
This is the week that Article 50 of the Lisbon Treaty was triggered, and the two years of negotiation between the UK and the EU commenced. Following this period, the UK formally leaves the EU. It is the first time a member state is leaving...
President Trump was elected on several promises, including one that he would fund tax cuts by cutting public spending. Cynics might note that his first action was to increase spending on the military by $54bn, the equivalent of six Polish...
Most economists agree on one thing; price controls do not work. Many go on to say they create shortages of goods, which inevitably drives black market prices even higher than they would otherwise be. Price controls were last tried in the...
Europe

The easy pattern of prolonged trade negotiations has been rudely interrupted by President Trump. Even before he had become President his anticipated presence in the White House changed global attitudes and expectations. In Europe...
Hayek’s The Road to Serfdom described how personal freedoms are progressively eroded by the state in the name of the common good. His warning is more associated with totalitarianism and dictatorships, than modern democracies, but the...

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Silver has the highest electrical conductivity and heat of all metals.