Posts Tagged ‘America’
Eurozone impact on world economy
In: Uncategorized
23 Jan 2012This is my latest Perspective column for Fund Strategy. What is the impact of the eurozone crisis likely to be on the rest of the world? Much commentary in recent months has focused on the 17 countries that use the euro but relatively little has discussed the broader effect of the region’s woes. There are [...]
America’s sovereign crisis
In: Uncategorized
20 Jan 2012This is the final box from my recent Fund Strategy cover story Just as the eurozone crisis is not all about sovereign debt it is wrong to see the Lehman Brothers collapse as just a banking crisis. Too many people see the problems that erupted on Wall Street in 2008 as entirely the fault of [...]
- Tags: America, economics, finance, Fund Strategy
More on American inequality
In: Uncategorized
16 Dec 2011Another interesting week in the debate: * Five Books interview with David Acemoglu, a professor of economics at the Massachusetts Institute of Technology. Lots of useful references. Sympathetic to Occupy Wall Street. Like many commentators he argues that the banks play a key role in the new inequality. Also that the rich are manipulating political [...]
- Tags: America, inequality
Important week in inequality debate
In: Uncategorized
11 Dec 2011I do not have time to go into them in detail but there were some important developments this week in the debate about inequality: * America. Barack Obama gave what was widely regarded as a landmark speech in Kansas. It attacked inequality, demanded fairness and called for the development of a new nationalism. * Britain. [...]
- Tags: America, Europe, inequality
Britain’s technocrats triumph
In: Uncategorized
2 Dec 2011It is not just within the eurozone that technocratic rulers are coming to the fore (see Frank Furedi’s essay in spiked on this trend). The same trend is apparent in Britain. In yesterday’s Financial Times the newspaper’s economics editor, Chris Giles, made the point that he: “was struck by the triumph of the technocrats in [...]
Corporate leaders back protests
In: Uncategorized
19 Oct 2011More support, or at least sympathy, for the Wall Street protests from the elite. According to an article (free registration required) in yesterday’s Financial Times the chief executive of Wells Fargo, John Stumpf, said “I understand some of the angst and the anger”. The bank chief also acknowledged “this downturn has been too long, unemployment [...]
- Tags: America, finance, inequality, protests
Protests echo elite angst
In: Uncategorized
17 Oct 2011Those who support Occupy Wall Street (OWS) and similar protests should ask themselves why it has enjoyed a sympathetic hearing from many of the world’s leaders. Among those American politicians who have supported the sentiment, if not necessarily the tactics, of the protestors are President Barack Obama, Vice President Joe Biden and Nancy Pelosi, the [...]
America and Europe live on tick
In: Uncategorized
3 Oct 2011This is my regular weekly Perspective column for Fund Strategy magazine. It is often forgotten that there are common elements to the eurozone crisis and the economic plight of America. One of the most striking is the role of what could be called “vendor finance”. The term is more widely used in relation to consumer [...]
Book review: Greenback Planet
29 Sep 2011This is my latest book review in the Financial Times. It is hard to separate any discussion of currencies from that of national economies and, ultimately, politics. A weak currency quickly raises awkward questions about the strength of the underlying economy and the political power of that state. In the case of the dollar, the [...]
Resist the shared sacrifice trap
In: Uncategorized
21 Aug 2011A common theme runs through the discussion of America’s troubled economy and the debate about the causes of Britain’s riots. The populations of both countries are being urged to make sacrifices rather than be so “greedy”. Austerity can only be resisted effectively if such arguments are defeated. Often they have popular appeal because the targets [...]
- Tags: America, consumption, Europe, inequality, living standards
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- English text of Novo article
- Upcoming Australian tour
- Germany shares British weaknesses
- Das Märchen vom faulen Griechen und den deutschen Musterknaben
- Contribution to new book on London
- Germany’s growing role in Europe
- Too embarrassing to talk about
- Banks pushed both ways
- Pristine Africa
- Plymouth lecture on 29 February