Review: Another “Minsky moment” may be on the way

By Edward Chancellor
November 27, 2015

Hyman Minsky didn’t just predict the global financial crisis 10 years in advance, a new book on him argues. The maverick economist also explained how the cure – bailouts by the Federal Reserve and other central banks - would drive the financial system to the brink yet again.

Dixon: How the EU could woo the UK

By Hugo Dixon
November 23, 2015

The British prime minister wants to rework the UK’s relationship with Europe. Once complete, other EU leaders could launch a charm offensive to persuade Britain it is valued and influential, and to vote to stay in the union. Here’s what Merkel, Hollande, Renzi, et al could say.

The Exchange podcast: Joseph Stiglitz says Clinton and Sanders are ‘right on’

November 20, 2015

The Nobel Prize winner and former World Bank chief economist believes both U.S. Democratic presidential contenders Hillary Clinton and Bernie Sanders are “right on” when it comes to the issue of income inequality. In a wide-ranging discussion he concedes that some Republicans get the problem, too.

UK wage puzzle demonstrates breakdown of old laws

November 11, 2015

The textbook tradeoff between lower unemployment and higher inflation isn’t happening. Britain’s jobless rate is at its lowest since 2008 yet wage growth is actually slowing. Workers aren’t suffering now, but they must hope unemployment and inflation don’t start rising together.

Japan index: Abenomics falls in autumn

November 11, 2015

Breakingviews’ gauge of Japan’s economic revival dipped in September as the current account surplus shrank while spending, consumer prices and share prices fell. Bank lending, manufacturing production and wages edged up slightly, but not enough to prevent an autumn slowdown.

Modi chooses awkward time for UK rock star welcome

November 9, 2015

India’s prime minister will address a crowd of 60,000 at London’s Wembley Stadium this week. Courting the diaspora makes sense. But the rapturous welcome is out of tune with UK-India business ties and a big local election defeat at home, where Modi mania is definitely over.

China index: Slowing down on the home front

November 2, 2015

The old growth engines are running out of steam. Rail freight and steel production dropped in September, while investments in new property fell for a second consecutive month, a first in our data set. It’s a stark reminder that times have changed.

China’s two-child policy delivers wrong baby boom

October 30, 2015

Diaper and dairy stocks jumped on news all couples will be allowed to have two children. Though the birth rate may inch up it won’t have much impact on China’s ageing population and shrinking workforce. Beijing will find it harder to rally urban mothers than to restrict them.

Dixon: EU needs to up its game on Turkey

By Hugo Dixon
October 19, 2015

The bloc has benefited for years from a stable country on its southeast border insulating it from mayhem in the Middle East. But Turkey is an increasingly leaky and troubled buffer state. This has economic as well as political repercussions. The EU needs to get its act together.

The Devil’s Dictionary of Post-Crisis Finance

By Edward Chancellor
October 9, 2015

Ambrose Bierce wrote “The Devil’s Dictionary” a century ago, ranging acerbically across government, commerce and life. Breakingviews’ original re-use of the form for finance – in 2007, when the crisis was barely beginning – is no longer adequate. Herewith part one of the sequel.