Breakingviews

Review: Some of what is wrong with economics

By Edward Chancellor
April 17, 2015

Meghnad Desai mocks his fellow economists for not seeing trouble ahead during the early 2000s credit bubble. The retired professor wisely calls for more study of history and a less narrow perspective, but he is still too conventional. He ignores the crucial financial cycle.

ECB, Syriza have broken euro zone’s German spell

January 27, 2015

The European Central Bank’s easing and the Greek anti-austerity party’s electoral victory show the euro zone is breaking free of German dominance. With loose monetary policy and banking union, it seems ready for growth-friendly policies that don’t ignore economic reality.

Asia can give the West a bubble-popping lecture

May 16, 2014

Regulators in Asia have been developing tools to smooth economic cycles for years. Yet the debate over “macroprudential” policy in the U.S. and Europe largely ignores this experience. Western regulators haven’t overcome the intellectual myopia that led them into the crisis.

UK would gain from intelligent industrial policy

March 8, 2012

British politicians have long shied away from coherent long-term economic plans. But ad hoc decisions on technologies, infrastructure, immigration and banking are not good enough. Vince Cable, the business secretary, is right to call for a new vision.

Euro left is powerless against austerity zealots

March 16, 2012

Opposition to the euro zone fiscal compact is mounting among centre-left parties. This could derail ratification by some member states. But rules to enforce strict fiscal discipline are already part of European law, and Germany and the ECB are still calling the shots.

Nine answers that should win the White House

October 3, 2012

President Barack Obama and Mitt Romney need to explain how they would fix the U.S. economy when the first of their debates kicks off on Wednesday evening. Breakingviews concocts the nine answers we’d love to hear.

Review: Is the West doomed?

By Hugo Dixon
January 17, 2011

A controversial book by Dambisa Moyo, How the West was Lost, suggests that it is virtually bound to be eclipsed by China. It raises the idea of protectionism and default as a way of fighting back. Hugo Dixon is more sanguine about the prospects and doesn't like all the remedies.

BOJ must now make its bold inflation goal credible

January 22, 2013

By adopting an aggressive 2 pct target for annual price rises, Japan’s central bank has joined Prime Minister Abe’s war on deflation. The open-ended promise of asset-buying will help. The next challenge is to convince markets that policy won’t be reversed abruptly in future.

Review: Stockman polemic gloomily convincing

April 12, 2013

The former adviser to President Reagan and private equity magnate makes a detailed case that crony capitalism and central planning have corrupted U.S. policy since FDR. His thesis is most persuasive for recent years - which doesn’t bode well for the future.

India’s bickering lawmakers test investors’ faith

May 9, 2013

A net $12 billion of foreign cash has poured into Indian stocks this year on the hope the government will keep its pledge to revive growth. But lawmakers refused to pass key economic bills. The legislative impasse, which will worsen as polls draw nearer, could prompt a reversal.