My profile of Petter Stordalen, an anti-capitalist billionaire from Norway, was published in Financial Times Wealth on Friday. The original link can be found here. Is it possible to be an anti-capitalist billionaire? Many would assume the question is absurd. Surely the greatest beneficiaries of the market economy should be its staunchest supporters? Not so […]
This is my latest book review for the Financial Times. The link to the piece on the FT site can be found here. American Tax Resisters, by Romain D Huret, Harvard University Press, 2014. Few people like paying taxes, but there are some individuals, particularly in the US, for whom active tax resistance is central to […]
Normally I pay relatively little to the Budget in Britain as it seldom contains much that is new. This time around I was stuck by a throwaway claim made by George Osborne, the chancellor, in his speech: “The independent statistics show that under this government income inequality is at its lowest level for 28 years.” […]
After my spiked article on Oxfam’s growth figures was published yesterday I belated remembered the development charity’s attitude towards economic growth. It has overtly called for incomes in the rich countries to remain steady or even fall. This is my blog post on the subject from 30 September 2009: Duncan Green of Oxfam explicitly calls […]
It is widely held that the devastating economic crisis of recent years was the result of the bursting of an economic bubble. Ironic then that the authorities seem intent on inflating another one. One of Britain’s sharpest economic commentators concluded that the Bank of England will never unwind quantitative easing after hearing Mark Carney, the […]
This is my latest spiked article. Why is the existence of extreme inequality in Britain treated as headline news? Given that a wide gulf between rich and poor is a characteristic feature of capitalist societies, inequality should not come as a surprise to anyone. A walk or drive around virtually any large city is enough […]
This is the final box for my cover story on five years of unconventional monetary policy in Britain. It is essentially a glossary. Extraordinary monetary policy has in turn spawned a new financial vocabulary. These are some of the main terms. Forward guidance. An indication by a central bank of how it is likely to […]
It is five years since the introduction of quantitative easing (QE) in Britain. This chronology is from my latest Fund Strategy cover story. QE was first implemented in Britain five years ago. However, there were precedents in other countries. The Bank of Japan implemented a form of QE from 2001 to 2006. In November 2008 the Federal […]
This is the main text for my Fund Strategy cover story on five years of extraordinary monetary policy in Britain. I will post the accompanying boxes over the next couple of days. It is easy to forget how much Britain’s financial architecture has changed in just five years. Back in early 2009 the term quantitative […]
Adair Turner is probably the closest the British establishment has to a go-to guy on finance and much else besides. During his long career he has provided both intellectual and practical leadership on some of the thorniest problems Britain faces. His CV is remarkable. After many years at McKinsey, one of the world’s top management […]
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