This is my cover story from last week’s Fund Strategy magazine. Note that, since I quote many people, not all opinions included in this article are mine. In his March 2011 budget speech the chancellor of the Exchequer, George Osborne, put forward a vivid vision of how the British economy could return to growth. The [...]
This is a box attached to my cover story from this week’s Fund Strategy magazine. The debate about robots, particularly their purported negative effects, has close parallels with discussions of the end of work. In itself the reduction in working hours or the elimination of work entirely can be seen as either welcome or as [...]
This is the main text of my cover story from this week’s Fund Strategy magazine. A box is to follow in a separate post. The Hollywood film Robot & Frank, which came out in the UK earlier this month, illustrates vividly how torn society is about the use of robots. In the near future a [...]
This is my Perspective column from this week’s Fund Strategy magazine. An event on economics has seldom shocked me so much. The public launch of the “Manifesto for Growth” at the London School of Economics (LSE) came across as blatantly disdainful of the public and the democratic process. My reading of the report’s central argument [...]
The counter-attack has begun. High profile experts are using robots to fight back against the claim that technological innovation has slumped. Paul Krugman, a New York Times (NYT) columnist and Nobel laureate, is the best known. In his column on December 9 he argued that “there’s no question that in some high-profile industries, technology is [...]
Watching two eminent economists in conversation I was struck by how much current economic debates lean on a one-sided interpretation of the Great Depression. Paul Krugman and Joseph Stiglitz were speaking at the Fashion Institute of Technology in New York. The two have a lot in common: Nobel prizes, Ivy League professorships, immensely high public [...]
This Perspective column was first published in today’s edition of Fund Strategy. Although the claim that America has entered a “new normal” of low economic growth has become commonplace the argument is usually crude. A new paper* by Robert Gordon, a professor at Northwestern university in Chicago, is an important exception. He puts forward a [...]
This week’s appalling GDP figures are far from the worst statistics that have come out on the British economy recently. One quarter of bad data can always be dismissed as a blip but there are reasons to believe Britain’s economic problems are deep-rooted. It takes hard work to divine any potential for improvement although it [...]
This is a comment by me on the Guardian’s comment is free website As the tallest building in Europe it dwarfs the others in the capital. Its distinctive style stands at odds with the historical buildings in the city centre. Prominent writers complained about its construction but the city’s inhabitants have generally come to love [...]
In this article I revisit the contention that the western world has entered a “new normal” of sluggish economic growth. It is the final part of my latest Fund Strategy cover story. In many ways the notion of the low hanging fruit parallels the argument that the global economy has entered a “new normal” of [...]
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