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Scotland would benefit from the extra flights a bigger Heathrow Airport would bring

Exclusive: top economist Dr Irwin Stelzer will today deliver this keynote speech to a conference arranged by Glasgow Chamber of Commerce and BAA. In it, he argues that the "connectivity crunch" suffered in London is having a major impact on the Scottish economy

It is not true that economists are incapable of learning anything new, that we stick to our theories even when we have been mugged by reality. In recent months we have learned three important things.