Daily Archives: January 26, 2012

Sarkozy trails in the polls and US Republicans’ search for a candidate continues

France’s Presidential campaign has begun ahead of the first round of voting in April, and Socialist challenger Francois Hollande is leading opinion polls. Paris bureau chief Hugh Carnegy and Europe editor Ben Hall join Shawn Donnan to discuss whether Nicolas Sarkozy could be facing defeat. Across the Atlantic, as Barack Obama set out his stall in the State of the Union address this week, the Republican party’s search for a candidate to oppose him in November grew ever more acrimonious and colourful. Chief US commentator Ed Luce and Washington bureau chief Richard McGregor join the show to discuss the campaign.

Yesterday, I moderated a panel on “The Future of Economics”. The panel included two Nobel laureates in economics – Peter Diamond of the Massachusetts Institute of Technology and Joe Stiglitz of Columbia. (For pedants, this is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.) It also had Robert Shiller of Yale and Brian Arthur of the Santa Fe Institute. So it would be fair to say that the panel was packed.

Three of the participants are definitely of the so-called saltwater school of economics (sceptics of the efficiency of markets in all circumstances who live on the US coasts). Professor Arthur is even more heterodox than they: he is interested in the impact of technology and increasing returns. It would have been wonderful, however, also to have had a fully committed member of the “markets are always right unless governments mess them up” freshwater school, associated particularly with the University of Chicago.

It is impossible to summarise all of such a rich discussion. But here are some of the highlights.

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REUTERS/Christian Hartmann

By Esther Bintliff and Claire Jones in London, with contributions from FT editors and writers in Davos. All times GMT.

18.49 That’s it for today’s live blog.

The eurozone crisis and income inequality remained the key issues on day 2.

What’s in store for delegates this evening?

For those that still have the stamina to tackle the big issues, there’s a panel on what will emerge as the new European identity in the 21stcentury, and another discussion with no fewer than eight Nobel laureates on the state of the world.

For those looking for a little light relief, Paulo Coelho talks on the art of storytelling.

Join us tomorrow from 07.30 for day 3 of Davos.

18.45 The FT’s banking editor Patrick Jenkins spoke to Jamie Dimon, the straight-talking chief executive of JPMorgan, this afternoon. Mr Dimon revealed that the US bank had considered pulling its operations in the eurozone’s more troubled member states. Here are a selection of the best quotes. Read more