Beyond Austerity
On Wednesday morning last week the £1 sterling in my pocket could buy a full $1.47 worth of George Washington's on the foreign exchange markets. On Wednesday afternoon the UK's Chancellor of the Exchequer, George Osborne, stood up in the House of Commons to present his emergency budget, which outlined a virtually unprecedented set of cuts in public sector spending and tax rises which will affect "every man, woman and child" in the whole of the UK. //Read More
The Great Global Competition
I recently read a book called the The Post American World - which opened with the line: "This is not a book about the decline of America, but rather about the rise of everyone else." Fareed Zakaria, the book's author, describes a world in which the US will no longer dominate the global economy, orchestrate geopolitics, or "overwhelm" cultures.
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It’s great to be an economist…
The prize for the most cheerful headline of the week, goes to the Daily Telegraph for its most read finance article: "Euro 'will be dead in five years'". This was the most striking conclusion of a survey carried out by the paper of 25 London based economists covering a variety of topics. //Read More
