With controversy surrounding the Rio Games, was it a mistake to hold the Olympics in an emerging market? August 2, 2016 Sam Dumitriu, head of projects at the Adam Smith Institute, says Yes. It’s bad enough when wealthy countries are plunged into debt to fund sporting events that offer, at best, a short-term boost to tourism. It’s much, much worse when those countries are grappling with high levels of poverty and a public health crisis. Supposed economic [...]
Iceland’s reticence to unwind financial crisis capital controls will prove costly in the long term August 1, 2016 Whether because of the enthusiasm of its football commentators or interest in its EEA arrangement as a model for post-Brexit UK, Iceland has been in the news frequently recently. Its economy has been growing fairly rapidly in recent years, up around 30 per cent from its 2009 trough, though still more than 20 per cent below [...]
As the chancellor plans a policy “reset”, would jettisoning austerity be grossly irresponsible? July 25, 2016 Dr Madsen Pirie, president of the Adam Smith Institute, says Yes. The economies that have emerged best from the financial crisis are those that have combined curbing spending with having a looser monetary policy. Those that have sought to cut back spending while also providing a stimulus have prospered, and have bounced back faster than those [...]
I lost my job over the Iraq War: Chilcot has restored my faith in democracy July 6, 2016 “In the name of God, go!” – Oliver Cromwell, On The Dissolution of the Long Parliament, 1653 The Iraq war presented me with the most profound moral crisis of my life. I was working in Washington, immersed in two major efforts offering advice on post-war Iraq planning. Yet I could see there was none. The [...]
This is no new financial crisis – but Britain needs to show the world that it’s open for business July 6, 2016 The UK economy was on a reasonably firm footing going into the referendum, though growth had lost some of its momentum from last year. While uncertainty was already affecting business confidence, household spending was supported by stable job creation in a low inflation environment. Since then, the falls in financial markets partly reflect expectations of [...]
Conservative peer Lord Heseltine has launched a blistering attack on former London mayor Boris Johnson, accusing the MP of “ripping the party apart” June 30, 2016 Boris Johnson's decision not to stand for the leadership of the Conservative Party has been savaged by Tory grandee Lord Heseltine. In a blistering attack, the avidly pro-Europe Heseltine accused Johnson of “ripping the [Conservative] party apart”, and slammed the former London mayor's refusal to run for Tory leader, and therefore prime minister, as both “contemptible” [...]
What’s behind the rise of anti-establishment politics? From Brexit to Trump and Bernie Sanders, frustration at inequality is rising – and some experts think central bank policies are to blame June 28, 2016 Anti-establishment sentiment is growing, with political leaders seen as “alternative” drawing support across the Western world – from the rise of Bernie Sanders and Donald Trump in the US, to France’s National Front, Germany’s AfD, Italy’s Lega Nord and Syriza in Greece. The surprise triumph of the Brexit movement falls into this camp too. And a [...]
Daphne Koller on Coursera in refugee camps, and why our education systems won’t help us in the future June 27, 2016 If you've never done a MOOC – a massive open online course – you likely know someone who has. Coursera is the biggest provider in the world. Launched just four years ago, it now has almost 20m learners worldwide, in 140 institutions across 28 countries. In the UK, there are over 600,000 users. Co-founder Daphne Koller was [...]
The new housing crisis is upon us – and it’s those who already own property that should be worried June 18, 2016 We hear an awful lot about the "housing crisis" in the UK and – particularly – in the capital. At one end of the ladder, rents are rising faster than wages and house prices are going up quicker than people can save for a deposit. At the other, new taxes and regulations on second homes [...]
Say what you like about the EU referendum – but Brexit isn’t going to hit UK house prices June 13, 2016 Why leaving or staying will have no impact on house prices In the run-up to next Thursday’s referendum, there have been some flabbergasting claims made by both sides. Suppositions made include the premise that leaving the European Union would lead to war and recession (although it was not made clear in what order these will [...]