Will We Ever Learn?

Lessons from the Global Financial Crisis The G20 meeting in Toronto in June was remarkable in only one respect. The familiar protests, the police in the streets, the hob-nobbing of the leaders were all on show. But, what was extraordinary, if not unexpected, was the speed with which most of the world’s most powerful leaders […]

Learning the Lessons

As the world-wide recession seems to be bottoming out, one question is being asked with increasing frequency and urgency. Have we learnt the lessons so that it will not happen again? The answer – at least in the US and the UK – is not a reassuring one. As the hard-pressed taxpayer, already burdened with […]

What the Meltdown Tells Us About Markets

The economic fallout from the global crisis has been immediate, extensive and severe. It has been felt in the shock delivered to our financial institutions, in the balance sheets of our major corporations, in growth rates around the world. More damagingly still, it will take its toll far from the City of London or Wall […]

Governments and Markets

As the global recession takes hold, governments around the world have – with varying degrees of reluctance or enthusiasm – found themselves taking centre stage. This is usually seen as a case of dangerous times requiring special measures. Many commentators and practitioners impatiently await the opportunity to return to what they see as business as […]

Constructing A Left Politics

As the global economic crisis gathers force, it sweeps before it not only the flotsam of discredited economic doctrines; it also demands a complete reappraisal of how economies and societies work. It poses again the great questions that underlie all political debate, and it poses them in the certain knowledge that the answers given over […]

Who Is To Blame?

As the true scale and nature of the global crisis becomes apparent, the blame game is under way with a vengeance. Not surprisingly, those who find that it is their jobs and homes that are now at risk are keen to identify those who can be held responsible. It isn’t just those – like Bernard […]

Lessons from the Crisis

As the global crisis unfolds, the great gurus of the world economy – those who have presided over its fortunes for much of the last two or three decades – have largely ducked for cover. Some – like Alan Greenspan – have had the courage to admit that there was a “flaw” in his thinking. […]