Martin Wolf

Martin Wolf is associate editor of the Financial Times and chief economics commentator

From now on comments on my columns will be appended to the columns themselves. My columns will no longer appear on the Economists’ Forum. We will however continue to publish articles on the Economists’ Forum from other contributors and this week you will be able to read entries on India and on the financial crisis.

I have a new site on ft.com — Martin Wolf’s Exchange — in which I will open discussion on a topic that I am thinking about. My aim will be to elicit views of readers. I will give my own response to the question I have raised, before posting the next issue for discussion. The first post is on Austrian economics, and you can read it here.

“The effort to bind states together may lead, instead, to a huge increase in frictions among them. If so, the event would meet the classical definition of tragedy: hubris (arrogance); Ate (folly); nemesis (destruction).” Thus, in December 1991, did I conclude an article on the rush to monetary union. I am aware of the commitment of Europe’s elite to the success of the European project. But the crisis is profound – for the eurozone, the European Union and the world. As Wolfgang Münchau has pointed out, last week’s European Council was not a solution but a fudge.

Continue reading “Why Germany cannot be a model for the eurozone”. Please leave your comments in the box at the end of Martin Wolf’s column.

Since the election of May 1979, just under 31 years ago, the UK has had one change of power, in 1997, and two dominant politicians: Margaret Thatcher, prime minister from 1979 to 1990, and Tony Blair, prime minister from 1997 to 2007. The era that these charismatic politicians defined is now over. That is the biggest lesson to draw from the Budget delivered by Alistair Darling, chancellor of the exchequer.

Continue reading “‘Back to the future’ imperils Britain”.  Please leave your comments in the box at the end of Martin Wolf’s column.

Germany says “nein”. That is the most important conclusion to be drawn from the debate on eurozone economic policy. What the German government is saying is that the eurozone must become a greater Germany. But this policy would have profoundly negative implications for the world economy.

Continue reading “Excessive virtue can be a vice for the world economy”.  Please leave your comments in the box at the end of Martin Wolf’s column.

“Chermany” spoke last week and the world listened. Was what it said coherent? No. Was what it said self-righteous? Very much so. Was what it said dangerous? Yes. Will wiser views still prevail? I doubt it.

Continue reading “China and Germany unite to impose global deflation”. Please post comments below.

Mirror, mirror, on the wall who is the least ugly of them all? This is how I feel when I examine the alternatives offered by the forthcoming general election.

Continue reading “The British election that both sides deserve to lose”. Please post comments below.

Ever since the federal republic was founded, Germany has had two over-riding strategic objectives: sound money and European integration. These were the twin imperatives learned from the calamities of the early 20th century. The euro embodies these aims. Now they conflict with each other.

Continue reading “Germany’s eurozone crisis nightmare”. Please post comments below.

Crisis? What crisis? Indian policymakers are not asking such a complacent question. But India has had a “good crisis”. Now its task is to unwind the exceptional support given to the economy and push through the reforms needed to sustain fast and inclusive growth.

The remainder of this column can be read here. Please post comments below.

If all the economists in the world were laid end to end, they would not reach a conclusion. The “battle of the letters” – two letters in the FT, from Lord Skidelsky and others and Lord Layard and others, replying to a letter in the Sunday Times from Professor Tim Besley and others – brings this hoary joke to mind.

The remainder of this column can be read here. Please post comments below.

Anybody who looks carefully at the world economy will recognise that a degree of monetary and fiscal stimulus unprecedented in peacetime is all that is prodding it along, not only in high-income countries, but also in big emerging ones. The conventional wisdom is that it will also be possible to manage a smooth exit. Nothing seems less likely. So let us consider the endgame, instead.

The remainder of this column can be read here. Please post comments below.