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 […]
This is my latest article for the FT. Has the global preoccupation with extreme inequality peaked? This key question, posed by Labour’s unexpectedly poor performance in the recent UK general election, received little attention. The opposition party’s avowedly egalitarian stance failed to resonate with the electorate in sufficient numbers despite discontent at the government’s austerity […]
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.
The critics of George Osborne’s proposed fiscal framework to make budget deficits illegal during “normal times” are missing the point. Its main flaw is not the fixation with balanced budgets but the idea that problems are best tackled with rules designed to outlaw errant behaviour. It was always likely that Keynesian economists, such as those who signed a letter in […]
This is a slightly edited version of my latest Polemic column for Fund Strategy. Although it was only uploaded today it was written shortly after the 7 May election. There was never any doubt about the result of the British election. Despite the months of vociferous arguments and heated exchanges the outcome was always a […]
Bobbing around the river Elbe in a barge is probably the best way to get a sense of the huge scale of Hamburg’s port (Hafen Hamburg). It is hard to avoid using superlatives to describe the sights: massive cranes, huge numbers of containers, enormous dry docks and gigantic ships. There are also cruise liners, ferries […]
This is my Polemic column for the May issue of Fund Strategy. Writing about economic and investment topics in recent years I have kept stumbling across some initially unexpected themes. It is time to start pulling them together. The most striking is what could be called inside-outerism. This is the pervasive tendency for elite functionaries […]
One of the biggest economic questions of the decade is undoubtedly whether China will succeed in changing its development model. Since the late 1970s the Asian giant has enjoyed spectacular success in transforming itself from a poor rural economy to a dynamic industrial power. The time has come to shift the balance even further towards […]
My latest book review for the FT was published yesterday. Russian oligarchs, in the popular imagination, are often seen as exemplifying the worst qualities associated with wealth. They are frequently linked to ostentation, corruption and even outright gangsterism. The reality, of course, is more complex. Oligarchs emerged in the 1990s alongside the tumultuous transition to […]
This was first published as my Polemic column in the April edition of Fund Strategy. It may seem a stretch but the death of Leonard Nimoy, who played Mr Spock in Star Trek, reminded me of a key debate in economics. Even those who are not science fiction fans should bear with the argument as […]
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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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