It is sad fact that as the emerging economies have become wealthier the discussion of development has become ever more degraded. Whereas the focus used to be on economic transformation, attempting to turn poor countries into rich ones, the new generation of experts promotes behavioural correctness. Take a look at the 2015 edition of the […]
This is the text of my piece on global inequality from last Friday’s Financial Times. It is perhaps the ultimate killer fact: Oxfam, the aid organisation, estimates the 85 richest people in the world own as much wealth as the bottom half of the global population. The figure grabbed global media attention and was even […]
The Financial Times has published two articles by me today. The first is a discussion of Oxfam’s claim that the world’s 85 richest individuals own as much wealth as the bottom half of the population. The second is a review of a book on campaign finance in America. You may need to register (free) to […]
This article was an accompanying box for a recent Fund Strategy cover story I wrote on emerging markets. The debate about the rising middle class in emerging economies often gives a misleading impression of the scale of prosperity that has been achieved. It is true, and welcome, that people in the developing world have become […]
This column was first published in the May edition of Fund Strategy. A disturbing new tag has become attached to the emerging world in recent months. The term “fragile five” has started to compete with Brics and Mints as a label for a distinct group of developing economies. Morgan Stanley is usually credited with coining the term […]
This article was published on Tuesday on FT.com. There is much excitement about the rise of a global middle class, yet emerging economies are still a long way from developing a mass investment culture. A look at some of the common definitions of middle class should be enough to sound a note of caution to […]
I will be debating Nick Dearden, the director of the World Development Movement, at the national conference of ResultsUK on Saturday 10th May. The event is on the weekend of 10th-12th May at St Lukes Community Centre, Old Street, London.
My latest Fund Strategy column examines the worrying trend towards slower economic growth in emerging economies. By coincidence the World Bank today revised downwards its forecast for growth in East Asia. A disturbing new tag has become attached to the emerging world in recent months. The term “fragile five” has started to compete with Brics and […]
This is my Perspective column from this week’s Fund Strategy magazine. An important side effect of the debate about “tapering” by America’s Federal Reserve is heighted concern about emerging economies. It is widely argued that as the developed economies start to recover their emerging counterparts could falter. As it happens a western recovery is still […]
This is my Perspective column from this week’s Fund Strategy magazine. There are several factors behind the sharp fall in the price of emerging market debt since its peak in early May. No doubt all the talk of tapering by America’s Federal Reserve has played an important role. A reduction in liquidity from America’s central […]
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Ferraris For All, my book defending economic progress, has just been published in an extended edition in paperback and on Kindle with a new chapter on the inequality debate.Amazon.com, Amazon.co.uk, Amazon.ca, Amazon.de,
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