Author Archive

November 24th, 2009

The debate over Darwin 150 years on

Posted by: Julie Mollins

Debate continues to swirl around the theory of evolution Charles Darwin proposed 150 years ago in his groundbreaking book, "On the Origin of Species," despite its universal acceptance among scientists.

Before Darwin's discovery, the world was generally thought to have remained more or less the same since its creation. This belief, based on Biblical interpretations, was contested through fossil studies showing that species change over time.

Darwin's legendary round-the-world 1831-1836 voyage aboard the HMS Beagle generated his most significant observations and discoveries, inspiring his work on natural selection.

Although Darwin first used the term "natural selection" in a paper in 1842, it wasn't until 1859 that he published his controversial theory that all living beings share a common ancestry -- a discovery that remains vital to modern biology.

Author Nick Spencer, director of studies at Theos, a research organisation launched in 2006 with the support of the Archbishop of Canterbury, explained why the debate persists to this day.

"People are encountering evolution not so much as a science but as a philosophy," he told Reuters ahead of a Nov. 24 lecture at Westminster Abbey to mark the anniversary of the exact date on which Darwin's book was first published.

November 20th, 2009

Remembering how to forget in the Web 2.0 era

Posted by: Julie Mollins

Amid ongoing debates over the hazards of excessive digital exposure through such Web 2.0 social networking platforms as Facebook and Twitter, a new book by Viktor Mayer-Schonberger extols the virtues of forgetfulness.

Since the emergence of digital technology and global networks, forgetting has become an exception, Mayer-Schonberger writes in "Delete".

"Forgetting plays a central role in human decision-making," he argues. "It lets us act in time, cognizant of, but not shackled by, past events."

Mayer-Schonberger shared his theory on how to fight back against the digital panopticon with Reuters before giving a lecture at the Royal Society for the encouragement of Arts, Manufactures and Commerce in London.

November 19th, 2009

A freakonomic view of climate change

Posted by: Julie Mollins

Ahead of a U.N. summit in Copenhagen next month, scepticism is growing that an agreement will be reached on a global climate treaty to replace the Kyoto Protocol, due to expire in 2012.

The protocol set targets aimed at reducing greenhouse gas emissions, which are believed to be responsible for the gradual rise in the Earth's average temperature. Many scientists say that reducing carbon dioxide emissions is key to preventing climate change.

But authors Steven D. Levitt and Stephen J. Dubner argue in their new book SuperFreakonomics that humanity can take an alternative route to try and save the planet.

"If the goal is to stop warming then geo-engineering solutions are worth considering because they are far cheaper, probably much more do-able and easily reversible," Dubner told Reuters before a talk at the Royal Society for the encouragement of Arts, Manufactures and Commerce in London.

Related vlog: How to become a freakonomist

November 10th, 2009

How to become a freakonomist

Posted by: Julie Mollins

What do you do when you are trained as an economist, but find economics too complex?

Become a freakonomist, of course.

Steven D. Levitt, co-author of  the freshly published  SuperFreakonomics, decided to "take the tools of economics and apply them to the kind of questions that no self-respecting economist would ever want to be related to -- like: does the name that you give your children affect their life outcomes; what are the underlying economics of prostitution; or, is your estate agent ripping you off?"

Levitt, who teaches economics at the University of Chicago, co-wrote SuperFreakonomics and an earlier book titled Freakonomics with New York journalist Stephen J. Dubner.

Before a talk at the Royal Society for the encouragement of Arts, Manufactures and Commerce in London, Levitt explained to Reuters how he became a freakonomist.

Related vlog: A freakonomic view of climate change

November 9th, 2009

Economist John Kay mulls Berlin Wall anniversary

Posted by: Julie Mollins

When the Berlin Wall fell 20 years ago, the momentous event marked the triumph of the market economy over planned economic structures, says British economist John Kay.

He explains his views on why the capitalist system reigns supreme.

November 5th, 2009

When firms “Too Big to Fail” fall

Posted by: Julie Mollins

Amid the turmoil of the 2008 financial crisis a myriad of events unfolded that the general public knew nothing about, writes New York Times reporter Andrew Ross Sorkin in a new book titled "Too Big to Fail."

Wall Street fell from the dizzying heights of good fortune to calamity in a matter of months. To a large degree it's still to early to tell whether financiers and politicians involved made the right choices.

"At its core 'Too Big to Fail' is a chronicle of failure -- a failure that brought the world to its knees and raised questions about the very nature of capitalism," writes Sorkin in his behind-the-scenes account.

He spoke with Reuters before giving a lecture at the London School of Economics on Thursday.

November 3rd, 2009

Why is the UK still in recession when the U.S. isn’t?

Posted by: Julie Mollins

Recent U.S.  gross domestic product data show the world's biggest economy emerged from recession in the third quarter, while in the UK data show that in the same period Britain's economy contracted.

British economist and author John Kay theorizes that Britain is mired in its worst recession on record in part because government support has not been evenly distributed across sectors.

"We've poured money into the financial sector -- by and large the financial sector in Britain is doing OK," he said.  "But very little of that is getting through to small and medium-size businesses out there in the rest of the economy."

November 3rd, 2009

Narrow banking: reforms for the future

Posted by: Julie Mollins

British economist and author John Kay argues in "Narrow Banking: the reform of banking legislation" that the financial services industry should be restructured to ensure that regulation serves the interests of the public.

"A competitive marketplace is one in which well run businesses earn profits through domestic and international competition, and badly run businesses go to the wall," he says.

"That is the process by which the market system promotes innovation and economic progress, and suppression of that process damages innovation and economic progress."

October 27th, 2009

Can emissions be tackled without Copenhagen deal?

Posted by: Julie Mollins

Even if a deal is reached among political delegates at the upcoming United Nations Climate Conference in Copenhagen, it is unlikely to set out specific emission targets, says Mike Hulme, author of "Why We Disagree About Climate Change" and a professor at the University of East Anglia in Norwich.

"What we've done with climate change is to attach so many pressing environmental concerns to the climate change agenda that trying to secure a negotiated multilateral agreement between 190 nations is actually beyond the reach of what we can achieve," he argues.

Hulme, who will take part in a debate hosted by the Institute of Economic Affairs in November about carbon emission policies and economic activity before he heads to the Copenhagen conference, discussed his views with Reuters.

September 30th, 2009

Roger Bootle throws capitalism a life preserver

Posted by: Julie Mollins

Problems sparked by the financial crisis have not gone away, but have been transferred to the public sector, economist Roger Bootle posits in his new book.

In "The Trouble With Markets: Saving Capitalism from Itself" Bootle argues that in large measure, the underlying cause of the financial crisis was the result of an idea that markets work, and that governments do not.

"Despite the trillions of dollars lost, and despite the worries of millions of people, more than this -- much, much more -- is at stake," Bootle writes. "For this crisis has delivered the killer blow to an idea that has underpinned the structure of society, framed the political debate, and moulded international relations for decades."

Bootle, director of Capital Economics and an economic advisor to business accountancy firm Deloitte, reflects on the pitfalls of the corporate system and puts forth his ideas on the future of capitalism.

He discussed his book and his economic predictions with Reuters at his London office.