Topic: Global Financial and Economic Crisis

Northern winter, Southern spring + Gramsci rules: looking back on 2011

Here’s my contribution to the flood of ‘2011 retrospective’ articles, published on the Guardian site today What you make of 2011 depends on your vantage point. The year’s events look completely different depending on whether you are sitting at the bottom or the top, in the old north or the old south. From the bottom, […]

Read More »

How can you regulate the beat of a butterfly’s wing?

OK, this may be a bit pointy headed, but it has got me thinking. I ran an early draft of this post past Ben Ramalingam (see pic), who thinks a lot about this kind of thing, and include some of his comments here. Fact one: we NGOs are always calling for the regulation of what […]

Read More »

Robin Hood, the G20 and the Greek debt crisis – what came out of last week's summit?

It’s any campaigner’s nightmare – you work for months to get movement on a big issue at a summit, and then an international crisis blows up and threatens to wreck both the agenda and your plans. But Max Lawson, Oxfam’s head of Policy and Advocacy, reckons that the Robin Hood Tax made significant progress last […]

Read More »

G20 rap curtain-raiser – Tap Dat A$$et from MC Moneypenney

I’m in Cambodia for a few days, (more on that to follow), which means that I will miss the the last minute lobby briefings etc for this week’s G20 summit in Cannes. But in lieu of a curtain raiser, here’s something altogether more fun – MC Moneypenney provides an international finance 101 rap from Occupy […]

Read More »

Revealed – the capitalist network that runs the world

From the New Scientist As protests against financial power sweep the world this week, science may have confirmed the protesters’ worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy. The idea that a few bankers control […]

Read More »

The defenders of capitalism should have more faith – response by Ha-Joon Chang and me to critics of the Robin Hood Tax

This piece by Ha-Joon Chang and me appeared in various places last week, including South Africa’s Business Day (under the title ‘Financial tax not the death knell of capitalism’ ). It was pegged to the G20 finance ministers meeting, which turned out inconclusive on the FTT – the Robin Hood caravan now rolls on to the  G20 […]

Read More »

Capitalism's golden age v a lost 30 years – great infographic

From the New York Times (there’s more that’s not included here, so worth going to the original). If you can’t read the text, keep clicking to expand the images. An old story, but well worth retelling, especially like this. At no point does it say that this data is for the US economy – seems that imperial […]

Read More »

Rise of the Machines: the weird world of high frequency traders

Some delightful writing from my colleague Richard Gower on the weird (and destructive) world of ‘high frequency traders’ and the need for a Robin Hood Tax to calm them down: “Welcome to the future. Machines, trading hundreds or even thousands of times a second, now dominate stock trading on both sides of the Atlantic. They […]

Read More »

What does Bill Gates' leaked report say about aid, tax and development?

Take a look at the leaked report by Bill Gates to the G20, which got a good deal of media coverage because of its positive noises about the Financial Transactions Tax. Actually, the rest of the report is at least as interesting. Firstly, it’s not actually the final report, but a 7 page ‘technical note’ […]

Read More »

Deja vu, role reversal or schadenfreude? The view of Europe's crisis from Latin America

I experienced an odd and simultaneous sensation of déjà vu, role reversal and schadenfreude when reading a recent briefing from the UN Economic Commission for Latin America and the Caribbean. Here is their description of current events in Europe, under the title ‘Various countries in the Eurozone need deep adjustments to achieve the established targets […]

Read More »

A nostalgic debate on globalization and development

When did talking on the subject of ‘globalization and development’ start to feel so retro? I got that distinct sensation at a lunchtime discussion at IPPR yesterday. The trench warfare of yesteryear – on the WTO, the Doha round, trade liberalization, protectionism etc, has somehow acquired a nostalgic glow. Most odd. In the room were […]

Read More »

Is inequality the root cause of global crisis? The World Bank's lead research economist thinks so

Back from my week off (Edinburgh Festival – fab) with a load of holiday reading to review. Here’s the first installment – an eccentric new book by Branko Milanovic, inequality guru and lead economist at the World Bank’s research division. The Haves and the Have Nots: A Brief and Idiosyncratic History of Global Inequality is […]

Read More »