(Photo: Pope Benedict speaks in Westminster Hall in London September 17, 2010/Tim Ireland)
Pope Benedict addressed British society on Friday in a speech in Westminster Hall and argued that faith and reason are not in conflict.
Markets are getting used to volatile swings in economic data since the financial crisis set in three years ago. But UK GDP figures for Q2 were so eye-poppingly strong they caused confusion on trading floors.
What do an eight-legged creature in an aquarium in Germany and 74 economists have in common? The consensus view that Spain would claim the World Cup -- until the economists, as they so often do, changed their minds.
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.
For the best part of 12 years, Labour has pursued essentially conservative (with a small ‘c’) economic policies, steadily underburdening itself of the ‘fiscally unreliable’ tag that some earlier Labour administrations were (wrongly or rightly) saddled with.