France will stay the lame duck of Europe if voices for reform remain mute October 13, 2013 VISITORS to France are often impressed by its network of fast trains, and its miles of half-empty motorways. They are right to be. The French had their HS2 debate decades ago, and the railway buffs won. As a result, the World Economic Forum ranks France fourth for infrastructure in its global competitiveness survey. (Airports are [...]
Letters to the Editor – 14/10 – Public sector pay, Emissions taxes, Best of Twitter October 13, 2013 Public sector pay [Re: Wages in public sector still beat private sector, Friday] It is hard to believe this has not been properly tackled. As long as public sector pay outstrips the private sector in any part of the country, the goal of the best and brightest young people will be to work for a [...]
Misguided energy policies have put Europe on a path to economic decline October 10, 2013 DESPITE rising atmospheric carbon dioxide levels, global climate temperatures have remained flat for the past 15 years, if not a good deal longer. And the UN’s Intergovernmental Panel on Climate Change (IPCC) was last month forced to admit that its own climate models have grossly overestimated climate sensitivity to atmospheric CO2. So why are some [...]
The Long View: Behind the debt ceiling madness lurks the insanity of an uncontrollable state October 10, 2013 THE WORLD has gone mad. No, really. If ever there was a time for even the most sanguine of political analysts to throw up their hands in horror, this is it. Despite minor signs of reconciliation, the leaders of the world’s most powerful country are still steering it towards default pell-mell. The scale of this [...]
Our economic boomlet won’t last if monetary policy remains loose October 10, 2013 THE ECONOMY has rebounded strongly in 2013, surprising the pundits but vindicating “monetarist” optimism. George Osborne, among others, suggests that the economy “is turning the corner”, implying a return to “normality”. Normal, of course, is subjective, but to the average person it probably means an environment in which the economy grows steadily, inflation is contained, [...]
Letters to the Editor – 11/10 – Renewable energy, US debt ceiling, Best of Twitter October 10, 2013 Renewable energy [Re: Our energy crisis, like America’s debt ceiling, is self inflicted, Tuesday] The core issue with many renewables is that they’re only available when the wind blows or the sun shines. This often takes place when energy is not needed in large quantities. They are extremely unreliable, and expensive. James H Rust Wind has [...]
US debt ceiling division may be the harbinger of greater crises to come October 9, 2013 AS THE government shutdown has metastasised into a crisis about the US debt ceiling, a dark narrative has been playing endlessly inside my head. For the social and political divisions that have been revealed over these past few weeks may well be harbingers of greater crises ahead. To understand why, we need only look back [...]
Beware the unintended consequences of well-meaning banking regulation October 9, 2013 FEW RECIPES deliver satisfaction first time. The array of banking reforms assembled in response to the financial crisis have many of the ingredients needed to allow firms to offer the products and services customers want, in a manner that restores trust and confidence to the sector. But some parts still need tweaking if they’re not [...]
The Fed is in desperate need of change – sadly Janet Yellen won’t be it October 9, 2013 PRESIDENT Obama has now officially announced his intention to nominate Janet Yellen, current vice chair of the Federal Reserve, to succeed current chair Ben Bernanke. And while Yellen is likely to receive a frosty reception from Republicans, she has a very good chance of garnering the necessary 60 votes needed to achieve Senate confirmation. She [...]
Letters to the Editor – 10/10 – Press freedom, Best of Twitter October 9, 2013 Press freedom [Re: Coalition rejects media’s bid for self-regulation, yesterday] A free and independent press is the most effective, economical and accessible tool we have to secure and defend the interests of ordinary people. I may be unusual in this, but I would sooner trust the press than politicians. Britain already has among the toughest [...]