The looming bankruptcy of Lehman Brothers, and the forced sale of Merrill Lynch, two of the greatest names in finance, mark the end of an era. But what will come next? Cycles of economic fashion are as old as business cycles, and are usually caused by deep business disturbances. “Liberal” cycles are followed by “conservative” … Continue reading Farewell to the Neo-Classical Revolution
Author: Robert Skidelsky
Economist and member of the House of Lords
Why no one loves Russia
I have occasionally toyed with the idea of forming a ‘Friends of Russia’ club in London, but have been discouraged by the thought that its membership would be distressingly small. Nowadays the ‘case for Russia’ can hardly get a hearing in the western world; disapproval of Russia dominates the media; it rose to a crescendo … Continue reading Why no one loves Russia
David Miliband must stop playing with fire
Russia, according to President Medvedev, is ready for a “new Cold War”. If politicians, including our own, want a new Cold War, they will get one. But the fault will lie as much with us as Russia. Every move in Russia's foreign policy is greeted by the West with alarm and suspicion. But its policy … Continue reading David Miliband must stop playing with fire
The Press versus Privacy
Privacy has become a big issue in contemporary jurisprudence. The “right to privacy” is enshrined in the United Nations Declaration of Human Rights, and guaranteed by Article 8 of the European Convention on Human Rights. But Article 8 is balanced by Article 10, which guarantees “free expression of opinion.” So what right has priority when … Continue reading The Press versus Privacy
KGB humour will not reassure foreign investors
In a major speech last Thursday in NizhnyNovgorod Vladimir Putin accused the coal and steel company Mechel of price-fixing. In a phrase which reverberated round the world, he hoped its absent chief, Zyugin, would get well soon ‘or we will have to send him a doctor to clean up all these problems’. On Friday, a … Continue reading KGB humour will not reassure foreign investors
Re-Thinking the Iranian Nuclear Threat
Would it be a great disaster if Iran had nuclear weapons? As a habitual contrarian, I pose the question because almost everyone seems to believe that it would, and that it must be prevented at all costs. But is that true? John Bolton, the former United States Ambassador to the United Nations, said in April … Continue reading Re-Thinking the Iranian Nuclear Threat
A tragedy in Zimbabwe
Robert Mugabe is a disaster for Zimbabwe. In his 28 years in power he has reduced a former thriving British colony to a political and economic hell. He rules by massacre, torture, and intimidation. He shamelessly steals the elections he still allows. No wonder he boasts that only God can remove him from power. The … Continue reading A tragedy in Zimbabwe
Russia and Britain: it looks chilly… but it’s far from a cold war
Britain and Russia have uniquely bad relations with each other - far worse than between Russia and any other main EU country, and worse than Russia's relations with the United States. This frostiness was highlighted again yesterday when a new spying row broke out after the Russians accused a senior diplomat in Moscow of working … Continue reading Russia and Britain: it looks chilly… but it’s far from a cold war
It all depends on the middle class
The middle class has traditionally been seen as the source of most of the good things in modern society –its commerce, science, art, politics. In a famous analysis, the political scientist Seymour Lipset argued that the chances for democracy improve when the social system shifts from an elongated pyramid with a large lower class base … Continue reading It all depends on the middle class
A League of Democracies?
Senator John McCain, the Republican presidential candidate, has been calling for the creation of a “League of Democracies.” This new international group would possess a formidable military capacity, based partly on NATO and partly on a “new quadrilateral security partnership” in the Pacific between Australia, India, Japan, and the US. Neither Russia nor China, of … Continue reading A League of Democracies?
Robert Skidelsky 