If time travelers from 1912, well-read in Edwardian science fiction, arrived in the early part of next year, they would find our era unexpectedly familiar in a number of ways. Since by 1912 automobiles and aviation were already in existence (my house has a perfectly serviceable 1911 garage) our lifestyle would show far less change […]

The eurozone crisis, which could have been defused initially by allowing Greece to depart the euro, has now taken on a much more serious aspect. If as seems possible Italy, Spain and even France lose the confidence of the international debt markets and are forced to write down debt, then government debt of prime countries […]

There has been considerable discussion as to whether the potential Greek default makes it this cycle’s Lehman Brothers, but that is surely wrong. Greece is much too small to destroy large areas of the world economy, as did the bankruptcy of Lehman Brothers. It is also being bailed out on exceptionally favorable, not to say […]

As is well known to readers of this column, it is my considered opinion that economic policy and management reached a global all-time apogee (so far – one can always hope) under the British prime ministership of Robert Banks Jenkinson, Lord Liverpool (prime minister, 1812-27.) However Liverpool is generally thought to have had one enormous […]