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Model Thinking

Duncan McClements

Ideas and Impact

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Substack
PricingOnly free issuesPublishesWeekly
Issues32Founded4 years agoLast Issue2 months ago
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Latest Issues

Sowing The Wind

Electricity in Britain is ruinously expensive. Household prices have risen 2.5 times faster than inflation since 2010, to twice the American level. Gas prices have returned to where they were before the invasion of Ukraine; electricity pric...

2 months ago
39
11

A Pound of Flesh

When the UK government appraises public investments, it compares benefits to costs. What it does not do is account for the economic damage caused by raising the money. HM Treasury’s Green Book declines to consider the marginal cost of publi...

3 months ago
26
5

Gilt by Association

UK pensions are governed by two very different regulatory regimes. The difference shows up in the returns. Assets held in Defined Benefit schemes have returned barely half what those in Defined Contribution schemes have since 2007 - £201 ve...

5 months ago
6

Capital flight

Over the past few decades, the population has increasingly concentrated in a small number of major cities. If AI raises the share of income going to capital, what happens to these urban powerhouses? While some have predicted that housing in...

8 months ago
2

Come to Second Order!

Dates: 26th to 29th September 2025

Location: Harkstead Hall, 2 hours from London Liverpool Street

✨ Apply here! Applications are due August 31st, EOD AoE. ✨

What is Second Order?

A three‑day residential unconference for ~20 early‑care...

9 months ago
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  • Duncan McClements

    Duncan is an economics student at King's College Cambridge, and he writes at model-thinking.com .

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