The Great Debate UK

from The Great Debate:

America is not broke

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“We’re broke.” House Speaker John Boehner (R-Ohio) and Tea Party groups have repeated that phrase so frequently that it must be true, right?

But America is not broke. Our short-term budget outlook is stable, and our long-term challenges are manageable if both sides are willing to compromise. So why would politicians falsely claim that we’re broke? To justify radical changes to our nation’s social contract that Americans would never accept any other way.

This may be surprising, given how much we hear about a looming “debt crisis.” But annual budget deficits have fallen by almost two-thirds over the past five years. The total national debt is actually projected to shrink in each of the next three years as a share of the economy.

Exaggerating our debt does not advance smart fiscal policies. It does, however, undermine the social programs created by the New Deal and the Great Society by making their successes appear hopelessly unaffordable and doomed to failure.

from Anatole Kaletsky:

Forget the drama: A solution for Crimea

President Vladimir Putin has disastrously miscalculated and Russia now faces deeper isolation, tougher sanctions and greater economic hardship than at any time since the Cold War. So declared President Obama after the NATO summit in Brussels.

European leaders have sounded even tougher than Obama, though less specific. Some whose countries lie far from Russia -- for example, British Prime Minister David Cameron -- have whipped themselves into a fury reminiscent of King Lear: “I will do such things -- what they are, yet I know not, but they shall be the terrors of the earth.”

from Ian Bremmer:

The G7 and the limits of Russia’s ‘political isolation’

 

On Wednesday, President Barack Obama delivered the major address of his weeklong trip to Europe, focusing on the Russian incursions into Ukraine and the coordinated Western retaliation. “Together, we have isolated Russia politically, suspending it from the G8 nations,” Obama said. For annexing Crimea, Russia was punished with temporary exile from this coalition of advanced industrial democracies, a group of Western countries that collectively act on their shared values.

There is just one problem: Russia never shared these values, and the G7 has neither represented global interests nor driven the international agenda for quite some time.

from The Great Debate:

Putin’s new ‘values pact’

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Now that Russia President Vladimir Putin has swallowed Crimea, the question becomes: What if the peninsula doesn’t satisfy his appetite for new Russian territory? What if the only thing that will satiate his hunger for power is the goulash known as eastern Ukraine? Or does he then move on to Moldova, and then on and on?

Indeed, while the world watched the protests in Kiev and the Sochi Olympics last month, the Moldovan territory of Gagauzia quietly held a referendum about whether or not to join Russia if the rest of the country opts for stronger ties to the European Union. Its citizens, just like those in Crimea, have argued that they would be economically better off on Putin’s planet, rather than as meager satellites in the Western solar system.

Changing weather patterns mean meteorology is more important than ever

–Julian Hunt is former Director-General of the UK Met Office, and a Visiting Professor at Delft University of Technology. The opinions expressed are his own.–

Since the 1990s, the United Kingdom has celebrated National Science and Engineering Week every year to coincide with World Meteorological Day (which this year is Sunday 23 March). This is fitting, given that meteorologists, whose original interest was more in the effects of outer space (especially meteors and lightning) than weather, work with scientists and engineers ever more closely, both in the use of modern measurement techniques and in making conceptual advances in mathematics and physics.

The missing debate about nuclear security

–Behnam Taebi is Assistant Professor of Philosophy, specialising in nuclear issues, at Delft University of Technology. The opinions expressed are his own.–

Technicians work at a uranium processing site in Isfahan 340 km (211 miles) south of the Iranian capital Tehran March 30, 2005. REUTERS/Raheb Homavandi

from The Great Debate:

Nuclear terrorism prevention at a crossroads

The crisis in Ukraine underscores the prescience of the international efforts to eliminate all nuclear weapons and weapon-grade material there after the collapse of the Soviet Union. Their success lowered the danger of deadly nuclear assets falling into the wrong hands.

President Barack Obama and the more than 50 world leaders meeting at the Nuclear Security Summit in The Hague on Monday need to show the same vision. They must seek to eliminate the persistent weak links in the global nuclear security system that can make dangerous materials vulnerable to nuclear terrorists.

from The Great Debate:

How technology widens the gender gap

The Internet and mobile phones have transformed our connections to people around the world. This technology has also, however, led to a widening gender gap in poorer countries. For it is largely men who control the information revolution that helps to educate, inform and empower.

In low and middle-income countries, a woman is 21 percent less likely than a man to own a mobile phone, according to research done by GSMA. In Africa, women are 23 percent less likely than a man to own a cell phone. In the Middle East the figure is 24 percent and in South Asia, 37 percent,

Is controlling your own pension really a good thing?

A central pillar of George Osborne’s 2014 budget was the announcement that pensioners will no longer have to buy an annuity upon retirement and that they would have more control of their pensions pots, including the freedom to withdraw cash without incurring penalty tax changes.

This is a true blue move that has Conservative values right at its heart – giving retirees the right to do what they want with their money. While in most instances being freed from the shackles of government is something to be celebrated, in this instance a little government paternalism can be a good thing.

Backing up the rhetoric

John Angood–John Angood is Tax Senior Manager at BDO LLP. The opinions expressed are his own.–

Confidence up. Inflation down. Exports up. Unemployment down. Growth forecasts up.  With this backdrop it must have been difficult for George Osborne to draw up his fifth Budget. But what we have ended up with is a Budget for blue rinsers rather than businesses. He obviously thinks that everything is heading in the right direction with the economy and exports so there is no need to do much, despite all the supportive rhetoric around helping businesses.

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