Oil price slide complicates life for central banks

August 4, 2015

Brent is back down at $50 a barrel. Bond prices show this is eroding investor confidence that inflation will pick up. Central banks usually ignore the temporary impact of commodity price swings, but can’t afford to be complacent with inflation and policy rates already so low.

Edward Hadas: Central banks can save the world

By Edward Hadas
June 10, 2015

The monetary authorities made a hash of things last decade, as they did in the 1920s, 1930s and 1960s. They still have a three-fold problem. Central banks fundamentally misunderstand financial markets, debt and currencies. With new ideas, their record could improve.

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

By Pierre Briancon
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

By Pierre Briancon
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.