Archive for September, 2013

This review first appeared in Friday’s edition of FT Wealth. The Society of Equals, by Pierre Rosanvallon, Harvard University Press, 2013 The idea of equality often evokes heated passions. For its critics it can represent insufferable political correctness, punitive taxation and even the nightmare vision of violent revolution. In contrast, its supporters typically see it […]

Today’s Financial Times includes two articles by me in its FT Wealth section. My profile of Bill Browder, an anti-Kremlin campaigner, is pasted below and I will upload my latest book review over the weekend. Bill Browder has a stark warning for western investors eyeing opportunities in Russia. “They are not only taking a financial […]

This column was first published yesterday in Fund Strategy. What lessons, if any, does the Asian financial crisis of 1997-98 provide for the present turmoil in the region? Both cases involved falling local currencies and capital flight as investor confidence evaporated but it is not immediately apparent if the similarities go any further. Nor is […]

This box accompanied my Fund Strategy cover story on the current state of the eurozone. There is a sharp divide among experts on whether there will be a dramatic leap towards eurozone integration following the German elections on 22 September. Many argue that German politicians have postponed decisive action till after the polls while others […]

This is the main text for my latest Fund Strategy cover story that examines the state of the eurozone. The original layout in the magazine, including accompanying graphs, can be found here. Many have made such claims before but this time around there is significant evidence that the eurozone is finally recovering from its slump. […]

This article, which is a bit more technical than normal, argues that in reality interest rates have already started to rise. Those who are obsessed with responding to the debate about “tapering” by America’s Federal Reserve could be doing the financial equivalent of fighting the last war. Credit is tightening whatever the unconventional measures being […]

This is my Perspective column from this week’s Fund Strategy magazine. An important side effect of the debate about “tapering” by America’s Federal Reserve is heighted concern about emerging economies. It is widely argued that as the developed economies start to recover their emerging counterparts could falter. As it happens a western recovery is still […]

The proposed HS2 high speed rail link between London and the north of England provides an object lesson in Britain’s failure to promote economic growth. It shows how politicians of all parties can profess support for economic expansion in good faith only to fail to achieve their stated objectives. In that respect the discussion is […]

This book review was first published on spiked on Friday. One of the most shocking political developments of recent years was the lack of any public outcry at the imposition of unelected regimes in Greece and Italy. In fact, the installation of technocratic governments in both countries in the midst of the Eurozone economic crisis […]