Is sterling riding for a fall? The UK’s current account deficit is certainly worryingly large.
But the real reason for sterling’s vulnerability lies not in the current account deficit itself but in its cause. Exploring what that is leads to a less conventional perspective on currency valuation, but one that is vitally important in today’s financially globalised world.
You can read more in the Markets Insight column I published in the Financial Times on October 28, 2015.
Specialisation improves efficiency – but it also leads to tunnel vision and blind spots. This paradox at the heart of modern life, and how to resolve it, are the topics of Gillian Tett’s new book The Silo Effect.
I reviewed The Silo Effect in the August 29-30, 2015 edition of the Financial Times. You can read my review here.
The steep and synchronised falls in the world’s main stock markets on Monday, August 24, 2015 caught investors by surprise. Yet in light of the disappointing economic fundamentals of the past few years, the real question is perhaps not why markets stumbled but why asset prices were so high in the first place.
The answer to that question is simple – but ultimately paradoxical. You can read what it is in my latest Real Money column in the New Statesman.
What is really at issue in the Greek crisis, and what do the latest developments mean for Greece, Europe, and the rest of the world?
I offer some answers to these questions in the July 9, 2015 issue of the New Statesman.
You can read the article here.
In his BBC World Service programme The Why Factor, Mike Williams searches for the extraordinary and hidden histories behind everyday objects and actions in always fascinating, twenty minute episodes.
In the July 5, 2015 episode, I am one of those with whom Mike explores the past, present, and future of one of the most basic, but underrated, cogs of our modern economic systems, as he asks Why Do We Need Cash?
Many more episodes of The Why Factor are available here.
The subject of Philip Howard’s Pax Technica — the emerging “internet of things” — could not be more timely and important; and its central premise — that this new stage in the evolution of the web has political implications that will match or even outstrip its commercial ones — is both striking and convincing.
I reviewed Pax Technica for the Financial Times on May 20, 2015. You can read my review here.
I reviewed Douglas McWilliams’s new book, The Flat White Economy, in the latest New Statesman. You can read my review here.