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Sunday, July 24, 2016


Yet another way we are cheating our grandchildren

Long term real interest rates are negative in Britain and in the Eurozone and barely positive in the United States. The impact on pension funding is dramatic.

The problems at Deutsche Bank

Deutsche bank’s share price has fallen by more than half in the last year. For some insight into the background see these two extracts...

A setback to ‘capital markets union’ – a glimpse of silver lining in the...

Those who cannot remember the past are condemned to repeat it. -- George Santanyana First, a quiz: Match the three authors with the three quotations which follow ...
Creative Tension

Modern business, modern markets

Our markets need to adapt to the changed nature of 21st century business if they are to remain relevant in a world in which capitalism has little need of capital.

It’s not rocket science: What can we learn about business and finance from NASA’s...

What we learn about business and finance from NASA’s mission Juno to the planet Jupiter.

Quantitative easing: The debate that never happened

On June 29th, John attended a launch event for the launch of a paper by Radix, a new think tank of the radical centre, on "Quantitive easing: The debate that never happened". This is the his foreword introducing the fundamental issues on both the effectiveness and legitimacy of quantitative easing.

Why Scotland is different

Discontent with established politics erupted in the Leave vote during the UK’s EU referendum. But in Scotland it has found expression through support for the SNP (a party of protest and government). It would be wrong to infer from this that Scotland will now automatically vote for its own independence. But I do now think this will happen in my lifetime.

Why the European Union is not the United States of Europe

Many visions of Europe are driven by rivalry the United States of America. In this article I describe one which welcomes European integration, sees a European identity as a complement to national identity, not a substitute for it, and does not equate ‘ever closer union’ with additional powers for supra-national institutions in Brussels and Strasbourg.

Stakeholders with the most to lose should control struggling companies

When a corporation is unable to meet valid claims, control passes to the holders of these claims in a legally defined order of priority. But, as finance has grown more complex, these rules have come to look more shaky; they can falter dangerously in modern banking or in the case of a struggling retail business such as BHS.

I am Scottish, British and European and happy to remain so

The Europe worth campaigning for recognises multiple identities and the changed nature of the state. If government is a provider of services rather than a monopolist of force, its powers can be, and inevitably are, shared. The rational debate is not over sovereignty, but about which unit of government is best fitted to deliver which services.