Did you realise that in 2015, you are unlikely to be any richer than you were in 2001? That’s according to the Resolution Foundation, which I mentioned last week. According to their research, average incomes in Britain have not kept pace with the last decade of growing GDP, and have fallen after the recession. Even [...]
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The network that runs the world
If you could map the connections between the world’s most powerful corporations, you could work out which ones were the most important, and which ones were critical to the functioning of the whole – the infamous ‘too big to fail’ companies. That’s what three systems analysts from the Swiss Federal Institute of Technology have done, [...]
Book review: Whoops! by John Lanchester
Here’s a book that’s been much recommended to me, that I’ve finally got round to. Whoops! Why everyone owes everyone and no one can pay by John Lanchester a layman’s guide to the financial crisis, and it’s not just understandable, it’s also entertaining. Quite a tall order for a book on financial collapse, I’m sure [...]
Back the Robin Hood Tax at the G20
When I first read about the financial transaction tax, it was a campaign adrift. A proposal had lost in the European parliament by just six votes – the UK being the leading voice against it. That was 2005, and the decade long campaign for the tax appeared to fizzle out. A few years and a [...]
Looting of more than one kind
There have been two different outbreaks of looting on this week, both unjustified but not entirely surprising, both centred in London and both fueled by greed and irresponsible behaviour. In one of them, up to £100 million of damage was done to shops and businesses, along with unquantifiable damage to communities, families made homeless, and [...]
Treasure Islands, by Nicholas Shaxson
Last week I described how vulture funds had been banned in the UK, but allowed to continue in our offshore territories. A similar story looks likely with the new Bribery Bill. The new law will tighten up the bribery guidelines, but leaves large loopholes that mean businesses will not be responsible for bribes paid through [...]
End Tax Haven Secrecy
End Tax Haven Secrecy is a brand new campaign that launched this week. It’s an alliance that includes Christian Aid, Oxfam, ActionAid, and The Tax Justic Network, and the campaign is geared up to get action on tax havens on the agenda at the G20 gathering in Cannes in November. French president Nicolas Sarkozy will [...]
Millennium Consumption Goals for the developed world
A professor in Sri Lanka has suggested the as well as the Millennium Development Goals, the west ought to draw up some Millenium Consumption Goals to help us reduce our emissions and materials use.
The Mystery of Capital, by Hernando de Soto
Hernando de Soto is a name that crops up regularly in my reading about development. He caught my eye partly because he is a world-renowned economist who isn’t from the English-speaking world, but also because his work is recognised by both sides of the political spectrum. He is the originator of what is, quite simply, [...]
Why banking bonuses matter
It’s bonus season again in Britain’s financial sector. Cue indignant headlines from the popular press, and impotent muttering from politicians. But banking bonuses really do matter, and it’s not particularly difficult to fix.
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