Elephantstrunk

There’s capital and there’s capital.

This comment is good.
If big pharma thought capitalising R&D was a good idea they would be doing it already.
What makes sense for big pharma does not necessarily make sense for aggregate calculations.
That’s not comforting if you want to be precise about capital.

What about the schools that fail? According to  Sir Cyril Taylor the answer is to close them or let them be taken over by other schools. That hasn’t been popular but where is the alternative?

Sir Cyril’s figures have been garbled at some stage. 80,000 students is more like 100 than 500 schools.
By 1997 definitions there […]