The Federal Reserve’s policies have also benefited the relatively well off; it is trying to raise the prices of assets which are overwhelmingly owned by the rich

When should growing inequality concern us? This is a moral and political question. It is also an economic one. It is increasingly recognised that, bey(...)

 People rally for  greater action against climate change during the People’s Climate March on Sunday, September 21st, in New York City. Photograph: Andrew Burton/Getty Images

The debate on action over climate change is stuck. Despite copious words and many international conferences, including a UN summit in New York this we(...)

Russian soldiers dressed in Soviet WWII uniform march through  Red Square in Moscow.

Russia is both a tragedy and a menace. In the Financial Times this week Sergey Karaganov offered an arresting insight into the blend of self-pity and (...)

 Photograph: Mike Kemp/Rubberball/Getty

The euro has been a disaster. No other word will do. A project intended to strengthen solidarity, bring prosperity and weaken German economic dominati(...)

Marine Le Pen of France’s National Front: the capacity of member states to tolerate unemployment and deep slumps cannot be unlimited. Photograph: Benoit Tessier

In the second quarter of this year, real domestic demand in the euro zone was 5 per cent lower than in the first quarter of 2008. The euro zone’s unem(...)

A woman walks past a currency exchange store with an Argentine national flag on display in Buenos Aires’ financial district. REUTERS/Marcos Brindicci

In one corner we have Argentina, serial defaulter. In the other, we have professional “holdouts”, bondholders who refused to accept a compromise deal (...)

The production line at the Scania AB factory in Sodertalje, Sweden. Photographer: Erik Abel/Bloomberg

Limited-liability, privately owned joint-stock companies are the core institutions of modern capitalism. These entities are largely responsible for or(...)

I admire the Bank for International Settlements. It takes courage to accuse its owners – the world’s main central banks – of incompetence. Yet this is(...)

A pro-government activist throws a firework at policemen guarding the US embassy in Buenos Aires, during a protest against the US court ruling about “holdout” investors in Argentina. Photograph: Reuters/Enrique Marcarian

Not far from the London offices of the Financial Times was the Marshalsea prison where debtors were sent. In the 18th century, more than half of Lo(...)

ExxonMobil says it does not envisage a low-carbon scenario of the kind many climate researchers advocate. The company believes the costs this would entail, and “the damaging impact to accessible, reliable and affordable energy resulting from the policy changes . . . are beyond those that societies, especially the world’s poorest and most vulnerable, would be willing to bear”. Photograph: Andrey Rudakov/Bloomberg

How much of the world’s fossil fuel reserves will eventually be burnt? This is not just a question for those concerned with climate policy. It is a(...)