Prohibition fuels firestorm of new dangerous drugs November 9, 2011 IN THE restless pursuit of pleasure, human beings will try almost any substance when circumstances require. During prohibition, Americans resorted to drinking toxic moonshine and inhaling ether. Second-rate substitutes and legal highs are seldom as pleasant as the real thing and are sometimes more dangerous, but at least you don’t have to worry about getting [...]
Europe needs to admit that it has a problem November 9, 2011 THE finger of blame usually points away, but sometimes we should turn it round, and point it at ourselves. As individuals, societies and countries we are more often than we normally realise the architect of our own problems. Greeks don’t like paying taxes and love early pensions, and end up with a bankrupt government. The [...]
RAPID RESPONSES November 9, 2011 Curing Japan AS A seasoned Japanese business professional, David Crow’s article [The Japanese disease, yesterday] made me smile with agreement, saddened with frustration and duty-bound to build upon its analysis. I commend Crow’s accurate observation of our cultural traits, but I would ask why characteristics which once made Japan great now fail to serve us [...]
The Japanese disease: How its corporate culture turns disasters into catastrophes November 8, 2011 IT HAS not been a good few years for Japan PLC. In 2009, its car industry was plunged into crisis after Toyota was forced to recall 6m vehicles following a series of fatal accidents in the US. Then came the tragic Japanese earthquake, which had a chilling effect on businesses. A few months later, Sony [...]
Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]
Unhappy about your looks? You should be November 8, 2011 IVIAN Sarcos from Venezuela was crowned Miss World on Saturday. Outside the event, protesters waved placards condemning the event. “Look… what society expects from young women,” protester Jo Robinson beseeched a journalist. “There is terrible pressure put on them to look a certain way. I wear make-up, I want to look nice, but to go [...]
RAPID RESPONSES November 8, 2011 Marx out of tent Allister Heath’s editorial in City A.M. yesterday [We need reform – but that does not make Marx right] appears to be under a misconception that Occupation of the London Stock Exchange is in relation to the socialist philosopher Karl Marx. Rather like the Arab Spring, the occupation is a reaction to [...]
David Cameron is to call for moral capitalism: He needs to tackle moral hazard first November 7, 2011 IT IS widely expected that the Prime Minister is going to start calling for a more moral form of capitalism. I have a simple test of whether a politician is trying to debate, or avoid, tough policy questions – I ask myself whether anybody would disagree with the opposite of what the politician is calling [...]
End the stigma that surrounds stress in the City November 7, 2011 LLOYDS Banking Group has announced that Antonio Horta-Osorio is expected to return before the end of the year, but City sources have been saying there is no way that he will be able to come back as chief executive after taking time off for physical and mental exhaustion. The persistent stigma is that after any [...]
Monetary policy is not all about pulling levers November 7, 2011 I’M A big fan of the Bank of England museum. I find the way it attempts to educate children about how monetary policy is conducted to be charming. There is an exhibit with a tube of clear plastic containing a ball. The tube is “balanced” when the ball is level with a marker for 2 [...]