We need a more inclusive form of capitalism

THE United States Business Roundtable, an organisation of CEOs of large US companies, recently issued a statement that caused quite a stir in some circles. Rather than focusing primarily or exclusively on maximising shareholder value, America's corporate titans argued, companies should attach...


From 'watch your back' to 'cover your a**': It's a changed world

THE best way to think about the United Kingdom's political predicament and presumed imminent exit from the European Union (EU) is to read the Slough House spy novel series by Mick Herron. (The sixth installment, Joe Country, just appeared).


Ensuring an equitable distribution of US economic prosperity

ECONOMIC growth in the United States was just 2.5 per cent in 2018 and, according to the latest "advance" estimate, may have slowed to only 2.1 per cent in the second quarter of 2019. The economy is growing at roughly the same pace as it did during Barack Obama's second term as president (GDP...

Diffuse development geographically

AROUND the world, the creation of good new jobs is increasingly concentrated in some of the largest cities. Innovative people want to work and live in close proximity to one another. This process of talent agglomeration has accelerated in recent decades and shows no signs of abating.


Angry voters are easier to distract

TO DEFEAT populism requires coming to grips with a fundamental reality: bad economic policies no longer necessarily result in a government losing power. In fact, it is now entirely possible that irresponsible populists may actually strengthen their chances of being re-elected by making wilder...


Five lessons from the US government shutdown

TWO Fridays ago, a wave of relief spread across the United States. A completely pointless and highly damaging partial government shutdown was over. Unfortunately, what we learned from the episode was extremely worrying about both what is likely to come next and the country's longer-term...


Brexit does not matter outside UK

THE contours of the 19th and early 20th century were defined in part by a series of consequential British foreign policy and economic decisions.

The future of economic convergence

WHO can now sustain rapid economic growth? The answer to this question will determine not just the geography of prosperity in the coming decades, but also what the balance of global economic activity will look like in 2030 or 2050. Increasingly, it appears plausible that this balance will partly...