Global reform of financial regulation must not choke off economic growth October 14, 2012 GROWTH forecasts were slashed by the IMF last week in the latest sign that severe headwinds are pushing the global economy closer to a stall. The Eurozone crisis, the so-called US “fiscal cliff” and the slowing pace of development in the Brics all pose considerable threats if mishandled by policymakers. It is positive, therefore, that [...]
The EU should not have received the Nobel Peace Prize October 14, 2012 THE Nobel Peace Prize selection this year really does take some beating. We have seen some pretty strident criticism, and good comedy, emerging from its decision to award the trophy to the European Union (EU). Thorbjorn Jagland, the head of the selection committee, was already on record before the announcement as saying: “I expect that [...]
Rapid responses October 14, 2012 Good in theory [Re: Osborne should move fast and make Tucker next governor, Wednesday] Although economics is a well established discipline studied across the globe, it ought to be recognised that its theories are not testable, not even retrospectively, and therefore have no practical value like those of the physical sciences and engineering. Theories which [...]
Lack of capital and onerous HMRC rules are restraining tech start-ups October 11, 2012 THE chancellor’s announcement this week that employees could get a stake in their companies in exchange for waiving certain employment rights was a rare flash of creativity from the Treasury. But it will come as no surprise if, in a year’s time, the opposition starts impishly asking how many businesses have made use of the [...]
Cameron’s conservative ideal of striving is holding back the big society October 11, 2012 DAVID Cameron’s conference speech this week was supposed to be a defence of conservative values. But by defining the Tories as “the party of the want to be better-off,” he revealed the limit of his ambitions. Striving is all very well. A nation caught on the treadmill of striving might well be the beau ideal [...]
Why bashing the wealthy will not raise tax revenue October 11, 2012 IT’S a curious state of affairs when tax is wielded as a stick with which to beat the affluent. Whether it’s capping tax reliefs, limiting pension contributions or increasing stamp duty to 7 per cent for £2m homes, it is noticeable that the constant stream of new tax measures is no longer about raising revenue, [...]
Was sloppy leadership at BAE to blame for the company’s failed merger with EADS? October 11, 2012 YES David Buik Although the merits of this ambitious merger were always clear, many will not be aware of the technical nuances involved with a deal of this magnitude, such as stock exchange etiquette and share price protection. It seems rather sloppy to me that BAE chairman Dick Olver and chief executive Ian King did [...]
Rapid responses October 11, 2012 Domestic security [Re: Should home owners have the right to use disproportionate force against intruders? Wednesday] The current law provides homeowners with more than enough protection, and genuine mistakes about the need to use force are allowed for. A threat to property cannot outweigh the value of human life, but the burglary situation is different, as [...]
Competition for scarce resources may bring the West to a standstill October 10, 2012 THERE are limits to growth. Extra economic activity in emerging economies can lead to less growth for us in the West. At least partly, global economic growth is a zero sum game. Restrictions in the supply of minerals, energy, food and water mean growth is likely to be constrained. If we are lucky, world growth [...]
Alarm bells for Obama: Romney’s debate win could leave him top of polls October 10, 2012 BEFORE last week’s bout between Barack Obama and Mitt Romney, the Washington Post interviewed a number of prominent political scientists on whether presidential debates mattered. The general consensus was “no”, that “few noticeable changes” occur in polling after the debates. Nate Silver, the New York Times’s number cruncher, claimed that if Romney made any gains [...]