Throughout the twentieth century, business elites in the United States were bound together by a dense interlock network — a network of directors connected by serving on the same corporate boards, and of boards connected by shared directors. A few dozen directors served on five or more boards, and this inner circle kept the informational pathways among corporations short. […]
When Donald Trump first proposed building a wall along the Mexican border, it was derided by many observers as a cheap campaign trick. If Trump did make it to the White House, the argument went, he would quickly realize that a wall spanning the Mexican border would be both impractical and prohibitively expensive.
But just days into his presidency, the […]
Image by -JvL-, under a CC-BY-2.0 licence
The transnational wealth elite are a group of people who individually come from one place, but invest their wealth transnationally since they entertain transnational jobs, assets and social networks. Although these elites appear to have a geographically diverse investment portfolio, they do not invest everywhere. Indeed, their real estate investment takes place primarily in first-tier global […]
JPMorgan London, by Håkan Dahlström, under a CC-BY-2.0 licence
The past months have been characterised by what can be called a “backlash against globalisation”. This development became most visible in the outcome of the Brexit referendum in the UK and the election of Donald Trump as the future president of the US. In both cases, the preceding campaigns massively referred to […]
Photo by epSos.de, under a CC BY 2.0 licence, via Wikimedia Commons
Anyone who has gone shopping for groceries recently may have been struck by what seems to be a new trend: the increasing desire of food producers to indicate their country of origin when packaging their products. It is a phenomenon that is particularly prevalent in the dairy aisle, where […]
Safety net, by /\ \/\/ /\, under a CC-BY-SA-2.0 licence
The Euro crisis, which first peaked in 2010 and continues to haunt the Eurozone today, has been the most serious economic crisis in the history of the European Union. In fact, taken together, the global financial crisis and the Eurozone crisis have by now caused more lasting economic damage in parts […]
The EU made a move in August to force Apple to pay €13 billion in unpaid taxes. The episode has quickly become emblematic of the EU’s fight against corporate tax avoidance, a dispute which intensified in the aftermath of the 2009 financial crisis. As Europeans see it, this is about the need to provide a level playing field between […]
Recently, I had the honour to analyse the challenge of immigration and refugees at the Danish National Association of Economists and Lawyers (Djøf). For quite some time there has been a political debate on what to do with immigration and refugees both in Denmark and Europe. What should we do with them? Let them in? Not let them in? […]
David Cameron, the European Commission and the OECD have all promised to get tough on tax avoidance in response to the Panama Papers leak. Any measures they take will be part of an international political process begun almost 20 years ago at the OECD, the organisation charged by the G8 and more recently the G20 to develop international standards […]
QuoteSearcher commissioned a follow up study on small and medium enterprises (SMEs) decision makers and their opinions on exporting in the European Union and worldwide. The original study was a YouGov survey on SME decision makers to understand their opinions on the EU and what effect, in any, a “Brexit” would have on their businesses. One of the key findings from […]
Until recently the City has sought to maintain a low profile on Brexit. For an industry still very much in the public gaze, there is little incentive to stick their head above the parapet as long as the outcome of the referendum result remains shrouded in uncertainty.
Finance, above all else, is deeply uncomfortable about making public interventions into politics […]
Communities in Australia’s mining heartland are in trouble and are calling on government to sustain them and rehabilitate closing mine sites. This month Alinta Energy will shut South Australia’s last two coal-fired power plants. Alinta has already closed its Leigh Creek mine and shackled government with responsibility for the purpose-built town that serviced the mine for over 30 years. […]
The ultimate rationale of banking union
Banking union was conceived as a reply to one of the root causes of the European debt crisis: the sovereign-bank loop. To break the loop, euro-area leaders decided to move responsibility for banking supervision and resolution to the European level.
Banking union consists of the SSM (Single Supervisory Mechanism) and the SRM (Single Resolution Mechanism). […]