Light Cast on the Future

Every now and then, a single event can cast a bright and unexpected light on a complex issue of much wider significance. Just such an event was the government’s decision to award the contract to build a new ferry to a Bangladeshi firm rather than a New Zealand boatbuilder. At first sight, the main reason […]

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 […]

Leaning Against the Market

When Lord Myners proclaimed this month that “there is nothing progressive about a government that consistently spends more than it can raise in taxation” he gave support and comfort to one side of an argument that is at the heart of the new government’s agenda – what to do about the government deficit. Lord Myners’ […]

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 […]

Yes, There Is An Alternative

The horror stories keep coming but even so it is doubtful whether we have yet grasped the scale and seriousness of what is happening in the global economy. And, as we stand transfixed by the need to surmount the current crisis, few will lift their eyes to the longer-term implications of what is sure to […]

Global Warming and Market Failure

The Stern Report draws some alarming conclusions from the growing scientific consensus that global warming is a fact and is caused by greenhouse gas emissions arising as a result of industrial and other man-made processes. The Report demands an immediate and effective response from governments around the world. It also prompts a prior question. Why […]