[Re: So much for the election. Now America must regain its mojo, yesterday]
This article is correct. The closeness of this election (a clear reminder that America is still a highly divided country) does nothing to resolve which direction the US should take. With 48 per cent of the electorate behind Romney, there’s no decisive appetite among voters for the US to move away from free market capitalism. But fierce partisanship also has an unhappy side. There’s also no appetite for compromise – vital if US leaders are to resolve the impending fiscal cliff. Democrats and Republicans must recognise that neither has a clear mandate to impose their views on the rest of the country.
[Re: Monetary union is clipping the wings of regions outside the dynamic South, yesterday]
Britain’s regions don’t just need new infrastructure connections to drag them out of economic stagnation. They need to be able to set their own tax rates, to liberalise their own business regulations, and to make themselves more attractive to investors. This would be better for all of us. London and the South East may currently be dynamic enough to support other regions through internal transfers. But if we persist with the burdensome levels of taxation that these transfers involve, that dynamism could easily disappear to other – more attractive – locations.
I’m sceptical of grand theories about Obama’s victory. The vote was close. Both campaigns had strengths and weaknesses.
The first thing on Obama’s to-do list is the fiscal cliff. A series of postponed decisions are coming due in January.
Whatever you think about Obama, he’s certainly inspirational. If only there was a similar politician in Britain.
Hopefully the Republican House of Representatives can hold the United States together for four more years.