As the UK limps into another recession, and with inflation set to rise again today, it’s hard not to conclude that Britain’s economic cognoscenti really don’t know what they’re doing. For years, we’ve been lavished with promises of growth, investment …
Farewell to my Princess Diana dog
My dog Maisie bore a striking resemblance to Princess Diana. Looking across at her one evening, she shot me a look and I saw it. With those beseeching big eyes, she was a dead-ringer for the People’s Princess in that …
Why I’m voting Republican
The day I received my absentee ballot from the DC government, there was a story in the Washington Post about the DC Council’s imminent vote: “The bill would eliminate most mandatory minimum sentences, allow for jury trials in almost all …
Hysteria has derailed Kwasi Kwarteng
No doubt Kwasi Kwarteng expected to spend yesterday morning putting the finishing touches to his Party Conference speech. Instead, 10 days after he announced his plan to scrap the top rate of income tax, Britain’s Chancellor found himself being schooled …
Will Macron call another election?
In April, Emmanuel Macron became the first French president for two decades to win a second term. Two months later, he became the first French president in 34 years to be denied a parliamentary majority. French voters frequently complain that …
Bankers have failed us again
A year ago, the governor of the Bank of England tried to downplay growing fears of inflation. Any increase, Andrew Bailey assured us, was understandable given the “bumpy” economic recovery after the pandemic, and he expected “it to come back …
Will we escape our age of failure?
A little over a year ago, as inflation in the United States spiked to an alarming 5.4%, the nation watched on as President Biden addressed the public’s concerns from a White House lectern. His remarks in response to a reporter’s …
Will Europe survive?
In our age of crisis, the state has been reawakened, breaking the taboos of the past few decades. But it’s still an uphill climb. Over the past 40 years, there was broad political agreement that markets were not to be …
The nightmare haunting the Tories
In a vast, bleak industrial hangar, endless coffins are laid out, as far as the eye can see. So begins a scene in Dennis Kelly’s conspiracy drama, Utopia, set amid the turmoil of the Winter of Discontent. In February 1979, …
Our Russia strategy has backfired
Whatever the origins of the Ukraine war, the West and Russia are now engaged in a broader confrontation that is not confined to the military struggle: the war has become a competition in pain-tolerance.
This is, as Thomas Schelling wrote, …
The boomers destroyed the Tories
Boris Johnson stands over your hospital bed, mask and medical gown on, forceps at hand, shining a lamp brightly down on your face. There had better be a good reason you’re undergoing this surgery. Pain must have a purpose.
Think …
How the elites exploit inflation
I can’t help but feel a sense of déjà vu at the current debate about global inflation. The similarities between today’s spiralling situation and the inflationary crisis of the Seventies are too striking to be ignored.
Nearly 50 years ago, …
Corporations aren’t greedy enough
American political debates over inflation have settled into predictable — and mostly unhelpful — patterns. On one side, “neoliberal” Democrats such as Lawrence Summers and Jason Furman argue that President Biden’s Covid stimulus bill was too aggressive, causing the economy …
Will China save Australian Labor?
Australians, on the whole, are a conservative lot. Since the end of the Second World War, they have only voted for a change of government seven times — on average, once in every four elections. And throughout that entire period, …
How a divided America empowers Putin
For more than a decade, Vladimir Putin has sought to sow division and undermine American democracy. Now that he’s distracted by the conflict unfolding in Ukraine, his successor has stepped into the spotlight: America’s political class.
Once wars united people, …
