-Angela Eagle is Minister of State for Pensions and Ageing Society. The opinions expressed are her own. Reuters will host a “follow-the-sun” live blog on Monday, March 8, 2010, International Women’s Day. Please tune in.-
The reality of 'political economy' is something that irritates many economists -- the "purists", if you like. The political element is impossible to model; it often flies in the face of textbook economics; and democratic decision-making and backroom horse trading can be notoriously difficult to predict and painfully slow. And political economy is all pervasive in 2010 -- Barack Obama's proposals to rein in the banks is rooted in public outrage; reading China's monetary and currency policies is like Kremlinology; capital curbs being introduced in Brazil and elsewhere aim to prevent market overshoot; and British budgetary policies are becoming the political football ahead of this spring's UK election. The list is long, the outcomes uncertain, the market risk high.
-David Kuo is director at The Motley Fool. The opinions expressed are his own -
There is a well-trodden saying that markets hate uncertainty. Elections are inevitably uncertain, so until the votes in the next election are counted we cannot be certain which party will govern the UK.
- John Parkinson is Senior Lecturer in Politics at the University of York, specialising in democratic theory and comparative democratic institutions. In a previous life he was a facilitator, internal communications and public relations consultant. The opinions expressed are his own. -
The economic worst is past. But there are many issues left to worry about.
Start with the good news. GDP is now growing almost everywhere, while the unemployment rate is hardly rising anywhere. Businesses and consumers are less fearful. As much as half of the 20 percent decline in international trade has been erased.
A Supreme Court ruling striking down an amnesty given to politicians and officials by former president Pervez Musharraf has created havoc in Pakistani politics. Among those affected on a list of 8,000 politicians and bureaucrats who were protected by the amnesty are the interior and defence ministers, who are now no longer allowed to leave the country until they clear their names in court.