Archive for the ‘Economy’ Category
For the past year or so, Walter Russell Mead has written extensively on The American Interest website about the steady disintegration of the post-New Deal social order, which he calls the “blue social model”. Mead, a professor at Bard College and a prolific blogger, argues that we cling to old notions, even as our economy and society have [...]
The US “fiscal cliff” talks were depicted as a tense dash to save America, but in truth all the big questions were left out. Read my spiked article in full here.
Congress and the President went past its own deadline of midnight on December 31st, but a day later reached a deal on the so-called “fiscal cliff”. With its vote late on Tuesday night, the House of Representatives joined the Senate in approving legislation that will avoid tax increases for most Americans and scheduled cuts in [...]
That’s the title of a chapter I wrote for a new book, London After Recession: A Fictitious Capital? The book is edited by three University of East London academics – Gavin Poynter, Iain Macrury and Andrew Calcutt - and is published by Ashgate. One of the aspects I was surprised to learn in researching the topic [...]
Joel Kotkin has a very perceptive article in The Daily Beast on the new Democratic Party coalition formed under President Barack Obama. I’ve often struggled with coming up with a term that summarizes the variety of interest groups that comprise this coalition and their outlook, and Kotkin has come up with one that may be [...]
Four years ago the American presidential race excited people as no election in recent memory had. Not only would the election of Barack Obama mark the symbolic achievement of the first black president. Obama the candidate ran on an uplifting campaign promising “hope” and “change”. He would be a “transformative” president. His message energized many. [...]
Half self-promotion, half banker-bashing, there was nothing brave about Greg Smith’s resignation letter. Read my spiked article in full here.
Last week the New York Times published an op-ed piece by Greg Smith, a 33-year-old midlevel banker with Goldman Sachs in London, in which he explains why he is resigning from the Wall Street firm. In his view, the culture in Goldman Sachs is “toxic and destructive”, and the firm no longer acts in the [...]
The eurozone finance ministers’ €130 billion bailout package for Greece announced on Tuesday, the second in two years, will not “rescue” Greece. It makes the economic situation worse, and represents a further tightening of the European Union’s stranglehold on national sovereignty and democracy in Greece. Euro bureaucrats claimed the deal was a success. “The new [...]
American and global stock markets fell again yesterday. The US indexes declined by about 5 percent, which is pretty steep for one day. There were hopes that last week’s turmoil was an aberration, but yesterday’s falls showed that was not the case. It’s not 2008, but it’s not good either. Here are some immediate observations: The [...]