London Calling, Germany Sours on Russia, Globalization’s Victims, Obama in Europe, Hard to Know, Pig in a Poke
John Waterhouse (1885) from Saint Eulalia, Tate Britain
What I’m listening to.
French Jews leave for London: canary in coal mine.
For Kevin Nakache, the breaking point came last year. First, one of his friends was gunned down in the attack on a kosher supermarket in Paris a few days after the Charlie Hebdo massacre. Then, in October, Mr. Nakache’s former Hebrew teacher barely escaped a knife attack in Marseille, his hometown in southern France, where violence against Jews is on the rise.
Germany looks to Russia no more
Germany’s establishment once believed in conciliation with Russia. No longer.
Meanwhile, from London to Berlin.
President Obama said yesterday that he hoped to complete a trade pact with the EU by the end of the year as he underlined his warning that Britain would lose out by voting for Brexit.
Ying and yang.
Its failure in the west is down to democracies’ inability to cope with the economic shocks.
The economic consequences of Brexit are unknowable, period.
Last week we were treated to a fine exhibition of the economist’s art. I refer to the Treasury study of the economic impact of Brexit, which told us that in 15 years’ time, on a central view, the average British household would be worse off by £4,300 a year. This episode has prompted me to think about what it is that economists know – and what they don’t.
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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©
Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.
The new politics must marry the twin virtues of unequal outcomes and equality of opportunity.
When too few get too much everybody loses.
Feminism is about women living their lives on their own terms, marshalling the resources of the society to make that possible, and men embracing this as vital to a successful society and their own liberation.
Can it be that striving for equality of opportunity however imperfect the process not only benefits the individual but also creates benefits for the society that are unintended but wonderful?
Economics must be a 'moral enterprise' as much as politics claims to be. Economic outcomes need to be framed in terms of right and wrong not just efficiency if only because these often align in surprising ways that are good for society and the economy.
My vision of Canada is that any Canadian child from a family of limited circumstance can expect to have a chance at lifetime of unlimited opportunities.
Free trade is a wonderful thing. Time and time again economists have proven that free trade creates enormous wealth for each country 'on the whole'. Historians have shown that free trade is usually associated with rising political, social and cultural liberty. The perennial problem is that free trade always creates tremendous disruption for thousands even millions of individuals often concentrated in one geography, and where the state is idle, not investing in best in class instruments of social justice, free trade can be a permanent ticket out of the middle class, down, not up.
Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise environmentally sustainable economic growth in order to fund fair government.
Public policy should be designed to decrease inequality before the law and increase equality of opportunity.
Capitalism is not the problem; the problem is what we do with capitalism.
Content is always more difficult to argue than conspiracy.
Let the state regulate and the market operate (most things).
Welfare strategies are best designed as a hand up, not as a hand out.
Political debate should not be fact free fighting.
Explanation lasts longer than eloquence.
Always favour empowerment over dependency.
The most enduring public figures are embraced for the causes they fought for and not the concept of themselves they hoped others would remember them by.
Find your voice and don't be the echo of somebody else.
It is possible to operate on two different levels: the practical, cautious and conservative; and the realm of ideas, open, free, and radical.