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ISSUE #17 - 24th-25th October 2008
- Robert Skidelsky, The Times
"An impossible crash brought Keynes back to life"
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/article4995723.ece
DJR's gist: Keynesian economics, whose prescription of government intervention to support full employment formed the basis of policy through the middle of the 20th century, seemingly died a natural death with Thatcher's monetarist policies of the 1980s. The "new economic paradigm" of low inflation, high growth and low unemployment seemed to have consigned Keynes to the scrapbook. How things change in a few years. The "new economic paradigm" is in tatters, "neo-classical" economics that minimised government intervention has resulted in a crisis caused by the market itself, and all the while Keynes had warned of the cheer uncertainty that could, would, and has caused carnage.
- Peter Hunt, BBC News
"Royal farewell to Eastern Europe"
http://news.bbc.co.uk/1/hi/uk/7689894.stm
DJR's gist: The Queen, the ever apolitical face of the United Kingdom (and some other countries that claim her as their Queen) has been on another state visit (adding to a tally that already has over 60 visits under its belt). This time it was Slovakia and Slovenia, where she has been greeted in the same vein as The Beatles. Which is some feat, and certainly good to see from the UK-standpoint. And as this report describes, it's always good to see that even in the most meticulously organised events, the BBC manage to put a spanner in the works.
- David Usbourne, The Independent
"Republican chiefs turn on each other as campaign falls apart"
http://www.independent.co.uk/news/race-for-whitehouse/republican-chiefs-turn-on-each-other-as-campaign-falls-apart-972813.html
DJR's gist: The US election may not be over yet, but Republicans are already beginning the post-mortem into how and why they've lost this election. Hopefully they will conclude that it's because their policies are anchored in a stone age view of society and a global perspective on a par with a 4 year old. The most obvious conclusion regards Sarah Palin - "a fatal cancer on the party", and the very "symptom and expression of a new vulgarisation in American politics". If she's still considered a viable candidate in 2012, then it's fair to say Barack Obama will have failed in 4 years as President.
- Holly Watt, "Across the Pond" blog, Sunday Times
"Obama reaps harvest in Iowa"
http://timesonline.typepad.com/uselections/2008/10/obama-reaps-har.html
DJR's gist: Casting your mind back to January and the caucus held in Iowa - Barack Obama secured a major and significant victory over Hilary Clinton in the very blue-collar state that Hilary should have been taking for granted. Meanwhile, John McCain largely ignored Iowa to focus on the primaries in other states such as New Hampshire. Fast forward to the present, and Barack Obama's seeds have been planted all over a state that looks set to reverse its colours for 2008.
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