Stephen King: We must keep our heads, even if others lose theirs

The inflation-targeting framework in the UK has seemingly been hugely successful over the years. Arguably, though, it's never really been tested in difficult times. Under current circumstances, with inflation rising and house prices falling, will the framework really be able to cope?

Stephen King: Will our central banks make a Freudian slip over their illusory control of price stability?

As oil and other commodity prices rise, there's a sense that our inflationary destiny no longer lies with our central banks

Stephen King: Power unleashed by emerging markets threatens to upset West's economic plans

Like unruly teenagers, the emerging markets will have to make their own mistakes

Stephen King: As safe as houses? How harsh realities are dispelling the home market myths

People are led to believe that homes are automatic generators of additional wealth. This argument is mostly spurious

Stephen King: Give globalisation a human face

Most economists believe that globalisation is a good thing. By breaking down barriers between nations, globalisation leads to a more efficient allocation of labour and capital. Greater efficiency implies higher output and higher output, in turn, makes us all better off. That, at least, is the theory. Globalisation, however, incorporates a core paradox. It reduces income and wealth inequalities between nations yet it seems to increase these inequalities within nations.

Stephen King: Inflation catches banks in a cleft stick

Students of economic developments in the 1970s and 1980s know all too well that the central bank par excellence during those two decades was Germany's Bundesbank. Its reputation in safeguarding the value of its currency, the Deutschmark, was second-to-none. Price stability, year-in, year-out, was supposedly its party trick.

Stephen King: Food protectionism could provoke a crisis on a par with 1970s oil shocks

The biggest threat to the world economy isn't the sub-prime crisis. Nor is it the credit crunch or the US recession. It's food.

Stephen King: From Pope Pius VII to the credit crunch, market failure lives on

If regulators and policymakers fail to deliver, we'll end up with more false hope and moreimpoverishment

Stephen King: Central banks have the power to avert another catastrophic depression

One American bank failure and, apparently, we have proof that market economies just don't work. The move towards ever more deregulation is leading us all into another depression. Greedy capitalists, left to their own devices, will suck the blood out of our economies, leaving the rest of us to suffer ongoing economic hardship.

Stephen King: Ultimately, Mr Darling is keeping his fingers crossed

'As financial markets implode, there are good reasons to think the UK will be more vulnerable than most'

Stephen King: It's time for the Fed to find a good plumber

Monetary policy normally works in the same way as your central heating system. You adjust the monetary thermostat – the policy rate – and wait for the economy either to warm up or cool down. Ben Bernanke and Mervyn King may be jolly clever men but their influence on the economy at large is not so different from your influence on the ambient temperature in your house.

Stephen King: Emerging economies are repeating our old mistakes

So you think we've got an inflation problem? You may be right, but the West's inflation difficulties are nothing compared with the problems now facing many of the so-called "emerging" economies. China now has an inflation rate of 7.1 per cent. Saudi Arabia's inflation rate is 9.0 per cent. Russia's stands at 11.9 per cent. Argentina's inflation rate is, officially, a more modest 8.2 per cent, although many people, including those who work at the IMF, think the true inflation rate is a lot higher.

Stephen King: Misguided thinking of those who say recession would purge the system

I never thought I'd associate the economics profession with sadism, but I'm beginning to wonder. In recent weeks, I've read an increasing number of articles suggesting that a recession would do the world economy a power of good. The protagonists' arguments follow in the best traditions of John Major's approach to economic policy. It was the mild-mannered Mr Major, after all, who once said "If it isn't hurting, it isn't working". But who, though, deserves to be hurt? Shock therapy sometimes works, but policymakers shouldn't bank on this approach all the time.

News
Places like Clacton have been left behind by economic growth
Stopping immigration won’t create jobs. Unaffordable tax cuts targeted at the better-off won’t help the poor. The real answers are a lot harder than that, writes Jonathan Portes
News
Jimmy Choo, whose shoes are designed by Sandra Choi (left), only raised £545m from its London listing
As Virgin Money shelves plans to list on the stock market and designer Jimmy Choo endures a cut-price debut, James Moore considers the outlook for firms wanting to raise funds
Life and Style
‘People take personally what Marks does,’ says Belinda Earl
Maggie Pagano recently said Marks & Spencer's clothes for middle-aged women were frumpy and boring. Last week, she met its style director
News
Video: The Independent's Alex Lawson provides a run-down of the day's major news from the City
News
We should either stay out altogether, or put boots on the ground,’ says Simon Murray as he oversees operations in northern Iraq. ‘Haven’t we got the balls to do that?’
Simon Murray is famed for his views on women executives. Now he’s firmly in a man’s world: finding oil in a warzone
News
Tycoons' text: Warren Buffett and Bill Gates both cite John Brookes' 'Business Adventures' as their favourite book
Video: The Independent's Simon Neville provides a run-down of the day's major news from the City
News
Time to postpone the balanced budget: there’s no alternative to a boost in German domestic public spending and investment, writes Rupert Cornwell
News
FACUNDO ARRIZABALAGA | AFP | Getty Images

Video: The Independent's Jamie Dunkley provides a run-down of the day's major news from the City

News
The BBC’s studios at Media City in Salford, whose mayor typifies the kind of civic leader the regions need
After a decade of wage decline and falling tax receipts, it’s no surprise the deficit is proving hard to clear. Here’s a solution, says Nigel Wilson
News
Video: The Independent's Alex Lawson provides a run-down of the day's major news from the City
News
Eurostar’s sale is expected to attract £300m with French state-controlled firm Keolis tipped to bid
A stake in Eurostar is up for grabs and will herald a privatisation jamboree to tackle the nation’s debts and fix the economy. But not everyone is keen, writes Jim Armitage
News
American dominance of key industries makes it an indispensable monopolists, says Satyajit Das
News
Video: The Independent's Jim Armitage provides a run-down of the day's major news from the City
News
Minecraft has won praise for its minimal violence and for stimulating spatial awareness
Minecraft is the most successful game since Angry Birds, but will it retain its minimal merchandising strategy once it’s in the hands of Microsoft? Gideon Spanier reports
News
A recent manufacturing surge is running out of steam with industrial production now down 9.6 per cent from the pre-downturn peak in 2008
The growth surge enjoyed by UK manufacturing over the past year is running out of steam, writes David Blanchflower
News
News
Banks fear imminent Russian cyber-attack
Video: The Independent's Alex Lawson provides a run-down of the day's major news from the City
News
Campaigners say it is no coincidence the EU is looking at consumer-facing companies such as Amazon
The EU’s Joaquin Alumia wants to know if Luxembourg gave the online retail giant a ‘sweetheart’ deal. If it did, that could change everything, Simon Neville reports
News
Only 368 of the Royal Mail's 150,000 staff refused the chance of receiving free shares in the flotation
Video: The Independent's Alex Lawson provides a run-down of the day's major news from the City
News
Laying a pipeline in North Dakota. Shale oil has seen US production soar and imports slump
The rise of shale, aka fracking, and weak demand from big consumer countries have combined to push the oil price sharply lower. Russell Lynch asks what the future holds
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Customer Service Executive / Inbound Customer Service Agent

£18 - 23k + Benefits: Guru Careers: We are seeking a Customer Service Executiv...

ASP.NET Web Developer / .NET Developer

£60 - 65k + Benefits: Guru Careers: We are seeking a ASP.NET Web Developer / ....

Operational Risk Manager - Asset Management

£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...

Project Coordinator - 12 month contract

£27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...

Day In a Page

Oscar Pistorius sentencing: The athlete's wealth and notoriety have provoked a long overdue debate on South African prisons

'They poured water on, then electrified me...'

If Oscar Pistorius is sent to jail, his experience will not be that of other inmates
James Wharton: The former Guard now fighting discrimination against gay soldiers

The former Guard now fighting discrimination against gay soldiers

Life after the Army has brought new battles for the LGBT activist James Wharton
Ebola in the US: Panic over the virus threatens to infect President Obama's midterms

Panic over Ebola threatens to infect the midterms

Just one person has died, yet November's elections may be affected by what Republicans call 'Obama's Katrina', says Rupert Cornwell
Premier League coaches join the RSC to swap the tricks of their trades

Darling, you were fabulous! But offside...

Premier League coaches are joining the RSC to learn acting skills, and in turn they will teach its actors to play football. Nick Clark finds out why
How to dress with authority: Kirsty Wark and Camila Batmanghelidjh discuss the changing role of fashion in women's workwear

How to dress with authority

Kirsty Wark and Camila Batmanghelidjh discuss the changing role of fashion in women's workwear
New book on Joy Division's Ian Curtis sheds new light on the life of the late singer

New book on Ian Curtis sheds fresh light on the life of the late singer

'Joy Division were making art... Ian was for real' says author Jon Savage
Sean Harris: A rare interview with British acting's secret weapon

Sean Harris: A rare interview with British acting's secret weapon

The Bafta-winner talks Hollywood, being branded a psycho, and how Barbra Streisand is his true inspiration
Tim Minchin, interview: The musician, comedian and world's favourite ginger is on scorching form

Tim Minchin interview

For a no-holds-barred comedian who is scathing about woolly thinking and oppressive religiosity, he is surprisingly gentle in person
Boris Johnson's boozing won't win the puritan vote

Boris's boozing won't win the puritan vote

Many of us Brits still disapprove of conspicuous consumption – it's the way we were raised, says DJ Taylor
Ash frontman Tim Wheeler reveals how he came to terms with his father's dementia

Tim Wheeler: Alzheimer's, memories and my dad

Wheeler's dad suffered from Alzheimer's for three years. When he died, there was only one way the Ash frontman knew how to respond: with a heartfelt solo album
Hugh Bonneville & Peter James: 'Peter loves his classic cars; I've always pootled along fine with a Mini Metro. I think I lack his panache'

How We Met: Hugh Bonneville & Peter James

'Peter loves his classic cars; I've always pootled along fine with a Mini Metro. I think I lack his panache'
Bill Granger recipes: Our chef's heavenly crab dishes don't need hours of preparation

Bill Granger's heavenly crab recipes

Scared off by the strain of shelling a crab? Let a fishmonger do the hard work so you can focus on getting the flavours right
Radamel Falcao: How faith and love drive the Colombian to glory

Radamel Falcao: How faith and love drive the Colombian to glory

After a remarkable conversion from reckless defender to prolific striker, Monaco's ace says he wants to make his loan deal at Old Trafford permanent
Terry Venables: Premier League managers must not be allowed to dictate who plays and who does not play for England

Terry Venables column

Premier League managers must not be allowed to dictate who plays and who does not play for England
The Inside Word: Brendan Rodgers looks to the future while Roy Hodgson is ghost of seasons past

Michael Calvin's Inside Word

Brendan Rodgers looks to the future while Roy Hodgson is ghost of seasons past