Archive for January, 2012

Was inequality one of the main causes of the economic crisis? The contention is supported by influential voices such as Bill Gross of Pimco and Raghuram Rajan, a former chief economist at the International Monetary Fund. The question has to be unpicked carefully. There are two blind alleys to avoid. The first is to focus […]

This is my latest Perspective column for Fund Strategy. One of the most striking but least commented upon features of the economic malaise is the extent to which it is blamed on debt. Not just that the build-up of debt is part of the story – that much is obvious – but that it is […]