Sliding Back to the Victorian Age

A recent report by the Centre for Analysis of Social Exclusion at the London School of Economics called attention to the fact that, at the present rate of inequality, by the year 2025, the United Kingdom will have returned to the unequal society of the end of the 19th century. In other words, we are going back to the times of Queen Victoria!

Downsizing Finance: The Mother of All Bubbles

As our climate destabilises, floods inundate cities, wildfires burn forests, droughts kill our crops and manmade radioactive isotopes leach into our soil and water, many accountants and policy analysts are waking up. They are joined by NGOs, civic leaders, whistle-blowers and a few public-minded politicians.

Newspapers Are Becoming the Toys of Billionaires

Few people today know that when the first news agencies were created in the 19th century, the French Havas and the British Reuters divided the world between themselves.

Sharks, Victims or Perpetrators?

Recent fatal attacks off Réunion have re-ignited demands for sharks to be hunted. But when it comes to humans and sharks, who is predator and who is prey? And what lessons need to be learned when people venture into environments where they are exposed to dangers posed by wildlife? 

The World Trade Organisation after Eight Transformational Years

On Aug. 31, I will be stepping down after eight years as Director-General of the World Trade Organisation (WTO).

The Role of the State in Developing Countries under Attack from New FTAs

Two new trade agreements involving the two economic giants, the United States and the European Union, are leading a charge against the role of the state in the economy of developing countries.

Five Theses about Assange-Manning-Snowden

THESIS ONE: The leaks are not about "whistle-blowing", but about a nonviolent, civil disobedient fight against huge social evils.

Global Value Chains from a Development Perspective

The current discourse on Global Value Chains by key proponents and also the World Trade Organisation (WTO) secretariat is that developing countries should liberalise - in goods and services - and conclude a trade facilitation agreement.

Cuba, a Country with a Broken Heart

For Cubans, baseball is not a sport, much less a game: it is almost a religion, and taken very seriously.

GDP: Gauging Dematerialised Progress!

As of Aug. 1, 2013, the U.S. Bureau of Economic Analysis (BEA) finally stepped into our new 21^st century. Gross Domestic Product (GDP) will now include much of the intangible production and services which actually make up some 70 percent of mature 21^st century economies, such as software, research and development, entertainment, trademarks, copyrights, design and other creative innovation.

Making Peace with Our Futures

Future studies, like peace-development-environment studies, is an interdisciplinary, international effort to get a grip on key issues, divided into ‘preferred futures’ – utopias – whose?; ‘predicted futures’ – forecasting – who does it, for whom?; and ‘future practice’ – scenarios bending the predicted toward the preferred – by and for whom?

Economists’ Fantasies, Planetary Nightmares

While debating a high frequency trader recently, I encountered the familiar rationalisations that high frequency trading (HFT) contributes to liquidity and price discovery in markets. Assertions about liquidity are hard to justify after the “flash crash” of May 6, 2010, where the “faux liquidity” of HFT disappeared when needed and the traditional market-making obligations of the old specialists were absent.

Big Brother Is Watching Us

We were afraid this would happen. We had been warned by books (George Orwell's "1984") and films (Steven Spielberg's "Minority Report") that with the progress being made in communication technology, we would all end up under surveillance.

A New Bretton Woods, to Prevent Future Crises?

Almost five years have passed since the global financial crisis, and the world economy is still reeling from its consequences. The main reason for this is the continued stagnation in developed countries, which is adversely affecting economic dynamism in other regions.

Europe’s Youth Count Ten Times Less than Its Banks

At the last summit of European heads of state held in Brussels at the end of June, the main theme was youth unemployment, which has now reached 23 percent of European youth (although it stands at 41 percent in Spain).

A Latin America With Opportunity for All

Latin America has had a good decade. Over the last 10 years, economic growth averaged 4.2 percent, and 70 million people escaped poverty. Macroeconomic stability, open trade policies and pro-business investment climates have supported and will continue to support strong growth in the years to come.

The New Fascism

The atrocious Second World War left behind lasting damage by lowering our standards for what is marginally acceptable.

If Not Quantitative Easing, Then What?

It took world leaders some time to realise that the financial crisis initiated by the collapse of the subprime mortgage segment of U.S. financial markets in 2007 would not exhaust its effects in an ordinary recession.

Colombia, the United States, and Montesquieu

The United States and Colombia are the leaders in mental anxiety in the Americas. Both have good reasons: Colombia has witnessed the longest lasting violence in any contemporary country: from 1949, with some interruptions, then on again from 1964 with the notorious guerilla group, the FARC (Revolutionary Armed Forces of Colombia).

Time for a Leap Forward for the European Union

Three different models for regional unification have been proposed by the movement for European integration since its inception. One vision is a league of states that preserve national sovereignty while committing themselves to follow specific policies agreed by consensus.

Behind the Climate Finance Headlines

Developed countries report that they delivered more than 33 billion dollars in Fast Start Finance (known as FSF), beyond the pledges they made at COP 15 in Copenhagen in 2009. Recent analysis suggests that the funding delivered may have exceeded 38 billion dollars.  But that is not the whole story.