Friday, May 22, 2009

The end of funny money means more Print (a UK viewpoint)

My favorite economic analysis comes from Martin Wolf at the Financial Times. Wolf's column today is well worth the click at the snippet for a full read.

In the States, President Obama has made it clear that he wants to lead a movement from an economy based on maxed out credit cards and under priced oil to one based on diverse energy sources and making stuff.

Print is about making stuff.
Martin Wolf -
Why Britain has to curb finance:

. . . Third, it must reject egregious special pleading from the industry. The sector argues that moving derivatives trading on to exchanges might damage innovation. So what? Maximising innovation is a crazy objective.

Fourth, while trying to create a stable and favourable environment for business activities, the UK should try to diversify the economy away from finance, not reinforce its overly strong comparative advantage within it."

No comments:

Post a Comment