Is Russia on track for joining the ‘common European space’? This was the topic of a conference in Vilnius last weekend, organised by the ‘Russia in United Europe’ committee, whose coordinator is Duma deputy, Vladimir Ryzhkov. From the point of view of the political system, the answer is no. Under the Putin presidency Russia has … Continue reading Russia and Europe: Which Common Space?

As President Putin chips away at Russian democracy, it is worth being reminded why, in the words of Winston Churchill, democracy is the worst system possible, except for every other. Everyone in theory believes in democracy. Even the communist states called themselves ‘people’s democracies’. But people are less clear why it is such a good … Continue reading Russia and Democracy

The American-British invasion of Iraq was supposed to open up a new front in the war against terrorism. Its most obvious fruit, though, has been to open a new front in the terrorist war against Western countries, by adding to the offence of the West against Islam. There should never have been a ‘war against … Continue reading Against Wars

With the price of crude oil up from $29 a barrel in 2000 to over $40 now, the world economy is experiencing its fourth oil price shock in the last 30 years. In nominal terms, this is the highest price ever, but in real terms the price of oil remains well below the 1981 peak, … Continue reading A Forths Oil Crisis?

The resumption of capital flight from Russia is a predictable response to the Russian government’s onslaught on the Yukos and Michael Khodorkovsky. It’s a sad time both for investors in Russia, and for all those who still hope that Russia will develop along more or less Western lines. Both the symbols and habits of autocracy … Continue reading Fruits of Good Governance

The resumption of capital flight from Russia is a predictable response to the Russian government’s onslaught on the Yukos oil company and its creator, Michael Khodorkovsky. It’s a sad time both for investors in Russia, and for all those who still hope that Russia will develop along more or less Western lines. Both the symbols … Continue reading Good Government? Not in Russia…

In my last column, I discussed the impact of rich natural resources on economic growth. I pointed out that they can keep a country poor, by slowing down the development of human capital. Today I want to carry the argument further by considering the impact of rich natural resources on the political system, and particularly … Continue reading Economic development + equality = democracy?

Most people believe that rich natural resources make a country rich. Fertile lands and abundant mineral wealth are seen as a natural endowment, available to support an abundant life. They also give a ready-made advantage in trade, since food, timber, metals, and energy are universal means to life. Even today many countries prohibit private ownership … Continue reading Can Russia escape the resources curse?

It is right that Globalist should notice the death of Ronald Reagan last weekend. For Reagan, together with Gorbachev and Margaret Thatcher, was the architect of globalization. In its broadest sense, globalization means a growing consciousness of the world as a single unit. This has both an economic and a political aspect. The economist Jagdish … Continue reading What Russians can learn from Ronald Reagan

Western opinion has been outraged by the revelation of torture by US forces of Iraqi prisoners. Photographs and videos shown to Congress (and partly reproduced in Western media) showed American soldiers at Abu Ghraib Prison sexually assaulting Iraqis and laughing over mutilated and abused bodies. Now President Bush has promised to demolish this notorious prison, … Continue reading Torture and Abu Ghraib