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Capitalism has reduced inequality and improved the world, yet still it is under attack

Capitalism has reduced inequality and improved the world, yet still it is under attack

DESPITE the First World War ending the previous November, the year 1919 was a very bad one. For example, the UK entered what was by far its deepest ever economic recession. Output fell some 25 per cent between 1919 and 1921 as the economy attempted to adapt

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Europe has suffered from the euro – just ask the Greeks

Europe has suffered from the euro – just ask the Greeks

One of the entertainments of the holiday period was reading Adults In The Room, the book by Yanis Varoufakis. It describes his time as finance minister of Greece, and his negotiations with the IMF, the European Central Bank, and the European Commission. Varoufakis was only in the job

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The Ghost of Christmas Past could tell us where the negotiations all went wrong

The Ghost of Christmas Past could tell us where the negotiations all went wrong

In Charles Dickens’ A Christmas Carol, Scrooge finds being haunted by the Ghost of Christmas Past unbearable. He begs it to stop. The Ghost replies: “These are the shadows of things that have been. That they are what they are, do not blame me.” It might almost

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Hyperbolic discounting explains why the French are revolting over Macron’s fuel tax

Hyperbolic discounting explains why the French are revolting over Macron’s fuel tax

Economists have long argued that an effective way of reducing carbon emissions is by increasing taxes on energy consumption.

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From Northern Rock to lunch tables, no one is immune from the herd mentality

From Northern Rock to lunch tables, no one is immune from the herd mentality

The Bank of England and Federal Reserve held a two-day conference last week in London on big data and machine learning. All very interesting stuff. There was an intriguing vignette as we emerged from the conference room for the frugal lunch on the first day. Straight ahead

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Britain’s stagnant regions are stuck in a monetary union trap

Britain’s stagnant regions are stuck in a monetary union trap

The Economic Statistics Centre of Excellence created a bit of a stir at the end of last week with its estimates of growth in the regions of the UK. Since the recovery from the financial crisis began during 2009, London’s economy has grown by 26 per cent.

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Life under Network Rail offers a glimpse of the future if Corbyn were left in charge

Life under Network Rail offers a glimpse of the future if Corbyn were left in charge

The shambles that is Network Rail continues to blight our lives. City A.M. readers may have experienced the cancellation of many services into Waterloo on Monday, due to engineering works overrunning. Even the best-laid plans can go astray. But this week was not just a one-off event.

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Move over Facebook and Apple, the next generation of customers has other ideas

Move over Facebook and Apple, the next generation of customers has other ideas

A visit to Rochdale Sixth Form College was a cheering experience last week. This year, 55 per cent of A-levels were at grades A* to B. True, Eton and Winchester do better. But this track record shows that even poor boroughs – and Rochdale is one of

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The evidence is in from across the Atlantic, and tax cuts benefit everyone

The evidence is in from across the Atlantic, and tax cuts benefit everyone

From discussions on how the UK should reform its tax and regulatory landscape to make the most of post-Brexit opportunities, to the rallies midterm election candidates have been holding across the US championing or lambasting the President’s tax cuts, the debate is still raging about how changes

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John McDonnell’s ideology won’t lead Britain to a bright new future, but to the dismal 1970s

John McDonnell’s ideology won’t lead Britain to a bright new future, but to the dismal 1970s

The focus this week has been on Philip Hammond’s Budget. The opinions of the shadow chancellor have been rather in the background by comparison. But John McDonnell is doing us all a favour at the moment. He is busily promoting a collection of essays which he edited,

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