Can The West Deal With The Refugee Crisis?
The tragic exodus of people from war-torn Syria and surrounding countries challenges the world’s reason and sympathy. Since 2011, some four million people have fled
Taking Corbynomics Seriously
Fiscal austerity has become such a staple of conventional wisdom in the United Kingdom that anyone in public life who challenges it is written off
No Pain, No Gain For Britain?
The economic historian Niall Ferguson reminds me of the late Oxford historian A.J.P. Taylor. Though Taylor maintained that he tried to tell the truth in
Debating The Confidence Fairy
In 2011, the Nobel laureate economist Paul Krugman characterized conservative discourse on budget deficits in terms of “bond vigilantes” and the “confidence fairy.” Unless governments
The Moral Economy Of Debt
Every economic collapse brings a demand for debt forgiveness. The incomes needed to repay loans have evaporated, and assets posted as collateral have lost value.
Vanguard Scotland?
Since I believe that the Scots are sensible, I think that they will vote “no” this week to independence. But, whichever way the vote goes,
Germany And Europe’s Surplus Of Stagnation
While the rest of the world recovers from the Great Recession of 2008-2009, Europe is stagnating. Eurozone growth is expected to be 1.7% next year.
Secular Stagnation And The Road to Full Investment
A specter is haunting the treasuries and central banks of the West – the specter of secular stagnation. What if there is no sustainable recovery
The Wolves Of Wall Street
“What a commentary on the state of twentieth-century capitalism,” mused “motivational speaker” Jordan Belfort as he looked back on his life of fraud, sex, and
Death To Machines?
At the start of the Industrial Revolution, textile workers in the Midlands and the North of England, mainly weavers, staged a spontaneous revolt, smashing machinery
Free Trade And Costly Love
The World Trade Organization’s ministerial conference in Bali in December produced a modest package of encouragements to global trade. More broadly, the WTO’s multilateral approach