Imagine that the climate summit conference in Copenhagen this weekend was not a gathering of nations. Imagine a gathering of delegates from the many ages of a single nation. The fault lines would not be India and China versus the global rich, but rather China 1800 versus China 1978 versus China 2100. It would be a negotiation not between different lands but between different historical facts, different levels of survivalism....

When a problem is big and tends to profit a powerful group, there’s a time-honoured temptation to sweep it under the rug by assuming it’s natural and inevitable. This was true of slavery until the abolitionist movement of the 19th century, and of colonialism until the contagion of independence movements in the 20th century. Now these same forces are at work in attitudes toward the global and national realities of...

The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...

The recession was less calamitous than many feared. Its aftermath will be more dangerous than many expect IT HAS become known as the “Great Recession”, the year in which the global economy suffered its deepest slump since the second world war. But an equally apt name would be the “Great Stabilisation”. For 2009 was extraordinary not just for how output fell, but for how a catastrophe was averted. Twelve months ago,...

Cutting emissions drastically is neither easy nor cheap, so the developed world is looking for scapegoats. As you read this, a deal is possibly being signed at Copenhagen to save the world from climate change. But be very clear. The agreement which the world has waited for is not going to be either an effective deal or a fair deal to reduce emissions in the world. The reason is clear: The...