Posts Tagged ‘development

This is my latest book review for the Financial Times. It is hard to imagine how the rapid development of many poorer economies in recent decades could have happened without the emergence of super-rich individuals. No doubt for most Financial Times readers the two go together. The rise of popular prosperity depends on the vibrancy of […]

The debate on social justice I participated in this week at the City of London Festival is now available to listen to as a podcast.  It is also appropriately topical that my debate on European austerity from last year’s Battle of Ideas is now available to watch on video.

While most European eyes are focused on Greece’s economic turmoil a potentially more significant development is unfolding on the other side of the world. In Beijing delegates from 50 countries have recently attended the signing ceremony of the new Asian Infrastructure Investment Bank. The bank will lend billions of dollars to help develop Asian infrastructure but […]

I will be debating social justice at 6.30pm on 6 July at the Bishopsgate Institute as part of the annual City of London Festival.

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 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 […]