Rapid responses October 16, 2012 Trade to prosperity [Re: Trade and tech are the solution to the world’s food crisis, yesterday] Nick Schulz is correct. It’s vital that we don’t let international development policy get captured by groups with no interest in the development of poor, rural economies. This is why it’s so worrying that the government emphasises its commitment [...]
Life companies aren’t up to scratch as grave pensions problem looms October 15, 2012 WE ARE heading towards a serious pensions problem. That much, the experts agree. In the UK alone, some estimates suggest the nation should be putting aside an extra £300bn each year if today’s workers are to enjoy a decent standard of living in retirement. That is the size of the current savings gap – or [...]
This year’s Nobel economists have transplanted theory into good practice October 15, 2012 I AM about to start teaching one of my favourite classes. I provide students with background reading and ask a simple question: how should we allocate kidneys? This year the course will be particularly relevant. Yesterday, we heard that Lloyd Shapley and Alvin Roth shared the 2012 Sveriges Riksbank Prize (the Nobel Prize in Economics). [...]
Trade and tech are the solution to the world’s food crisis October 15, 2012 THE United Nations recently reported that, with global food prices rising, food shortages will likely emerge in developing countries at the end of this year and into 2013. And with today being World Food Day, we must get serious about one of the greatest humanitarian challenges of our time: feeding a global population that is [...]
Is Sir Richard Branson’s personality the real reason Virgin Group is still shaking up UK Plc? October 15, 2012 YES Andrew Mulholland Many of us fondly remember the launch of Virgin Atlantic, the fledgling challenger brand that was going to take the battle to the established big-boys of the airline industry. But now the business touches everything from media to banking, you could be forgiven for thinking Virgin has become part for the very [...]
Rapid responses October 15, 2012 Romney’s limits [Re: A Romney victory would have a big impact on the UK economy, yesterday] The difference between Romney and Obama does look significant, but neither of them will be able to solve the really pressing problems that the US faces. They won’t eliminate the deficit, and they will be unable to sufficiently deregulate the [...]
Incentives must be the foundation of a revolution in British education October 14, 2012 WITH aims including far more school choice for pupils from all backgrounds, and raising standards in state schools through competition, the goals of the 2010 Academies Act were bold. Autonomous groups would set up free schools, which in turn would revolutionise the education system. But current policy betrays such a revolution. Only comprehensive reforms, designed [...]
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 [...]