Shibuya Crossing in Tokyo. Demand deficiency syndrome has afflicted Japan since the early 1990s and the US, euro zone and UK since 2008 at the latest. Photograph: Getty Images/Flickr RM

The principal high-income economies – the US, the euro zone, Japan and the UK – have been suffering from “chronic demand deficiency syndrome”. More(...)

‘Atmospheric concentrations of greenhouse gases are at levels not seen in at least 800,000 years. In addition, human-caused emissions of such gases have risen consistently.’ Photograph: Getty Images/iStockphoto

The Republican victory in the US midterm elections was a triumph for its strategy of sustained vilification of the president and obstruction of his po(...)

Bundesbank president Jens Weidmann. With conventional monetary policy at its limits, the choice is between unconventional monetary policy or expansionary fiscal policy. Germany is extremely uncomfortable with both. Photograph: Ciro De Luca/Reuters

Might the policies of the euro zone result in a robust recovery? My answer is no. Since the euro zone generated 17 per cent of world output in 2013(...)

Economic commentator Felix Salmon
Wolf eats the Salmon

Our bubbly economists may be on the march, but at least they’re not as uppity as some of their British cousins. The pages of the New York Times were t(...)

 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(...)

Morning commuters walk past the Lehman Brothers headquarters in 2008.

Next Monday sees the sixth anniversary of the collapse of Lehman Brothers. That bankruptcy has been blamed for the Global Financial Crisis and the mel(...)

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(...)

Economist Pat McArdle, left, with Martin Wolf, Financial Times chief economics commentator,  at the Institute of International and European Affairs. Photograph: Brenda Fitzsimons

The performance of the European Central Bank since the onset of the economic crisis has been “completely appalling”, the chief economics commentator f(...)

The talk given yesterday at the Institute of International and European Affairs in Dublin by Financial Times commentator Martin Wolf was a sobering en(...)

A clerk at a branch of China Merchants Bank, in Hefei, Anhui: China will not have a financial meltdown, but reform and rebalancing are essential. Photograph: Reuters

Must China’s borrowing binge, like most others, end in tears? This is a hotly debated topic. On one side are those who predict a “Minsky moment(...)