[I appeared briefly on Newsnight commenting on this – the item is about 20 mins in]. A British Home Secretary faces a media firestorm over a major blunder in one of the Home Office’s Executive Agencies. A senior agency official is blamed to shift attention away from Ministers. He resigns and hits back, hard and […]

The Greek crisis has given neo-liberals a a great opportunity to criticize ‘big government’ Hellenic style – they see the problem as a Big Fat Greek Government (apologies to the film of nearly that name). But as usual the truth about Greece’s problems are rather more complex – what Greece needs is not less Government, […]

My recent post suggesting three simple reforms to financial markets provoked a bit of a squall on Twitter. The Free Market Fundamentalist Tendency especially seemed incensed that any restrictions on markets was a good idea. Most of the criticisms were either simply abusive – such as that I’m “bonkers” – or ideological rants with little […]

I have been thinking about what sort of moral principles ought to apply to finance, including banking. The sort of thing I’ve been thinking about are some fairly simple things that would appear obvious to most of us, but apparently don’t apply to the world of finance. Today I heard a Lib Dem MEP say […]

“Income Data Services, which totted up pay, bonuses and various share awards, says the average FTSE 100 executive director pocketed a 49 per cent rise in the last financial year to bring their remuneration to £2.7m a year. Chief executives had to make do with a 43 per cent rise, poor lambs.” James Moore, The […]

The Peruvian economist Hernando de Soto has offered a very interesting twist on the western financial crisis. To summarize, he argues that the problem in the developing world is the translation of real, physical, assets into trabeable paper. This allows the raising of capital through loans, which lubricates capitalist development. The west, he suggests, now […]

This press release from the Fabians raises interesting issues about the future of public services……. Fabian Society – Tory voters think cuts should be temporary 11.10.11 Around half of Tory voters disagree with the Conservative ideology of rolling back the state, new polling and analysis by the Fabian Society reveals. 69% of voters (including 56% of Conservative […]

Tropical cyclones, as is well known, have a ‘eye’ that is relatively quiet. As the howling winds of one wall of the cyclone pass over and relative quiet descends, it is easy to think the whole thing is over. We now appear to be in the eye of an economic and political cyclone right now, […]

Health Secretary Andrew Lansley’s somewhat opportunistic outburst about PFI debts in the NHS yesterday brought the whole issue of PFIs back onto the agenda. (I was on BBC Radio 4’s PM program yesterday talking about it). The debate about PFIs usually generates more heat than light, as protagonists and antagonists slug it out. In reality […]