There’s a cost to doing nothing in Ukraine March 3, 2014 IN RESPONSE to Russian forces entering the Crimea, the interim Ukrainian government called for UK and US intervention, invoking the undertakings we (and the French, and latterly Nato) gave to protect Ukraine’s territorial integrity. Yesterday, William Hague went to Kiev to tell the Ukrainians to their faces that we’re not coming – “no military options [...]
Forget invasion: Putin is just four steps from victory in Ukraine February 27, 2014 AS ITS currency collapses, protests flare up in Crimea, and Russia flexes its muscles on the doorstep, those in the West claiming triumph in Ukraine should remember the story of King Pyrrhus of Epirus. In 279 BC, this scourge of the Romans managed to best them at the Battle of Asculum, but at tremendous cost. [...]
Ghostbusters is the best case for capitalism you’ll ever come across February 27, 2014 YOU DON’T know what it’s like out there. I’ve worked in the private sector. They expect results!” Harold Ramis, the writer of the endlessly quotable Ghostbusters, died this week. It’s a sad loss of a huge talent, a man with the rare gift for blending insight with popular entertainment. Take Ghostbusters. Superficially, a silly 80s [...]
We can solve Britain’s housing crisis. Here’s how February 27, 2014 IF WE could build and heat homes with the hot air generated by the UK’s housing crisis debate, we would solve both issues in one go. Eighteen months ago, the issue was the availability of mortgage finance. We could not build because our customers could not borrow, and that was dragging the volume of new [...]
The real reason squeezing the rich makes us all poorer February 26, 2014 RADICAL reform of income tax is not only desirable, but completely possible. To achieve it, however, proponents of change need to provide a strong evidence base for a much flatter tax system, with a much lower top rate in the UK in particular. We need to show that the optimal revenue-raising top rate of tax [...]
How Osborne could resurrect our lost savings culture February 26, 2014 CAST your mind back to 1978. The mighty Boney M had two number one hits, I was sheepishly starting big school in Cambridge, and Britain had a household savings rate of 12 per cent – more than double the current level. As a schoolboy, even I was bitten by the savings bug sweeping the land. [...]
Why Merkel’s EU reform shopping list isn’t enough February 26, 2014 GERMAN Chancellor Angela Merkel arrives in London today on an official visit that many are heralding as the start of David Cameron’s pitch to renegotiate Britain’s relationship with the EU. Unlike Francois Hollande’s trip to an Oxfordshire pub last month, when the French President said he wouldn’t support treaty change, initial reports suggest Merkel is [...]
How socialism has destroyed Venezuela February 25, 2014 MILTON Friedman once said that, if you put the government in charge of the Sahara desert, there’ll eventually be a shortage of sand. No wonder that, after 14 years of socialist government, Venezuela – the country with the world’s largest oil reserves – is currently importing gasoline. This fact highlights Venezuela’s painful descent into chaos, [...]
Why boardroom psychology trumps consumer optimism February 25, 2014 MOST of the commentary on the UK’s economic recovery focuses on consumers. Are they taking on too much debt again to finance their spending? Is there a bubble in house prices, as people get more excited about bricks and mortar? Certainly, in terms of sheer size, spending by consumers is by far the biggest component [...]
Big Data: Don’t ignore the dark side February 25, 2014 SOFTWARE rules the world. This isn’t just what we say out in Silicon Valley, or a belief that my sector matters most – it’s a simple statement of fact. What’s caused this to happen? In today’s world, data is everywhere and what was once thrown away is now cheaper to store. We generate more electronic [...]
