Globalisation
The EU must act on a Tobin Tax
Have Gordon Brown, Nicholas Sarkozy, Angela Merkel and other EU leaders dropped their support for a Tobin tax, or will they press home the idea in the near future? This question is crucial, particularly now that there are widespread plans for ‘budget cuts’ amongst EU member states, including possible rises in VAT in the UK.
A [...]
Can The State Still Be Saved?
After eleven years in government, the German Social Democratic Party are now having to cope with their greatest electoral defeat in the post-war period. On the day of the election there was a feeling almost of unbelief about what was happening, not just among party members but also among many supporters. How was it possible [...]
After the European Elections: Why we need a more European Social Democracy
Measured against the hopes of a positive shift in power in favour of social democracy in the wake of the financial and economic crisis, European social democracy, even if the real balance of power has barely changed, is the loser in the European elections in 2009. Leaving aside the general tendency at European elections for [...]
The changing Face of Global Governance: between past Strategic Failure and Future Economic Constraints
Until recently, the West has, by and large, determined the rules of the game on the global stage. During the last century, western countries presided over a shift in world power – from control via territory to control via the creation of governance structures created in the post-1945 era. From the United Nations Charter and [...]
Reconnecting Power and Politics
Social democrats need to reassert the protective power of the state – this time through global institutions.
Ten years ago Gerhard Schröder declared that: ‘economic policy is neither left not right. It is either good or bad’. Today we can conclude that this was a self-fulfilling prophecy. Then, eleven out of fifteen governments of the European [...]
Who will run the World?
The tectonic plates of the global economy are beginning to settle into a new alignment. At Pittsburgh it was announced that henceforth the G20 would replace the G8. At Istanbul, where I have just been, Stanley Fischer, currently Governor of the Central Bank of Israel and hugely influential, used the Annual Meetings of the IMF [...]
Six Things that didn’t cause the Crisis – But really ought to have
Experts, soothsayers and pundits have been falling over themselves to list the factors that combined to produce the worst economic downturn since the Great Depression. (My ha’penny’s worth is here). A partial consensus has emerged on some issues (excessive deregulation of the financial sector, current account imbalances) while debate continues to rage on others (such [...]
A New Start in Economic Policy – Beyond Financial Capitalism
‘Germany must get moving’, the former German President Herzog demanded in 1997. Ten years later, this move has encompassed not only Germany, but gone through the entire world – but not in the way Roman Herzog imagined. Those who for thirty years preached that we should trust the self-regulating power of the markets and worshipped [...]
The New Politics of Globalisation
The world is suffering from the most severe economic breakdown in decades and the international political community, under the umbrella of the G20 and the UN, is working feverishly to mitigate the hardest consequences of the downturn. But the political management of the crisis must not only focus on the tackling of economic issues and [...]