http://www.ft.com/comment/columnists/martinwolfhttp://www.ft.com/rss/comment/columnist/martinwolfFT.com - Martin Wolfen© Copyright The Financial Times Ltd 2008. "FT" and "Financial Times" are trademarks of the Financial Times. See http://www.ft.com/servicestools/help/terms#legal1 for the terms and conditions of reuse.support@ft.comTue, 8 Jul 2008 19:30 BSTWed, 09 Jul 2008 16:55:19 BSTNewspapers60http://news.ft.com/cms/d1f3ce1a-6bbe-11da-bb53-0000779e2340.gifhttp://www.ft.com/comment/columnists/martinwolf(PICS-1.1 "http://www.classify.org/safesurf/" L gen true for "http://www.ft.com/" r (SS~~000 1))http://www.ft.com/cms/s/0/59b99bda-4d13-11dd-b527-000077b07658.htmlhttp://www.ft.com/cms/s/0/59b99bda-4d13-11dd-b527-000077b07658.htmlTackling man-made climate change is much the most complex collective action problem in human history. Solving it will require concerted efforts from both developed and developing countries over at least a century. There is no choice but to try, writes Martin Wolf Tue, 8 Jul 2008 19:30 BSThttp://www.ft.com/cms/s/0/ddea2c54-478b-11dd-93ca-000077b07658.htmlhttp://www.ft.com/cms/s/0/ddea2c54-478b-11dd-93ca-000077b07658.htmlThe aim of this year's report by the Bank for International Settlements is clear: it is to reduce the frequency and severity of crises. It is not enough to say that we can clear up afterwards. That is too complacent and too one-sided, writes Martin Wolf Tue, 1 Jul 2008 19:40 BSThttp://www.ft.com/cms/s/0/8b557d5c-4396-11dd-842e-0000779fd2ac.htmlhttp://www.ft.com/cms/s/0/8b557d5c-4396-11dd-842e-0000779fd2ac.htmlWhat is ahead will be tougher than the expansion the UK has been used to for16 years. But it's not the end of the world, writes Martin Wolf Thu, 26 Jun 2008 19:27 BSThttp://www.ft.com/cms/s/0/6459fb74-420b-11dd-a5e8-0000779fd2ac.htmlhttp://www.ft.com/cms/s/0/6459fb74-420b-11dd-a5e8-0000779fd2ac.htmlIn the short term, the biggest monetary policy requirement is a tightening in emerging economies, many of which have strongly negative real interest rates. As important is letting jumps in energy prices pass through, forcing adjustments in energy use, writes Martin Wolf Tue, 24 Jun 2008 19:47 BSThttp://www.ft.com/cms/s/0/c8c0cd8e-3c95-11dd-b958-0000779fd2ac.htmlhttp://www.ft.com/cms/s/0/c8c0cd8e-3c95-11dd-b958-0000779fd2ac.htmlWhat explains the combination of a 'credit crunch' in the US with soaring commodity prices and rising inflation across the globe? Are these related events? So far this is not a return to the 1970s. But action is needed to keep this true, writes Martin Wolf Tue, 17 Jun 2008 19:17 BSThttp://www.ft.com/cms/s/0/e7e5525a-3896-11dd-8aed-0000779fd2ac.htmlhttp://www.ft.com/cms/s/0/e7e5525a-3896-11dd-8aed-0000779fd2ac.htmlInvestors have been able to buy the companies, replace the equity with debt and enjoy a licence to print money, writes Martin Wolf Thu, 12 Jun 2008 18:59 BSThttp://www.ft.com/cms/s/0/fae2d7e2-370b-11dd-bc1c-0000779fd2ac.htmlhttp://www.ft.com/cms/s/0/fae2d7e2-370b-11dd-bc1c-0000779fd2ac.htmlJeffrey Sachs has produced an analysis that manages to be both pessimistic and optimistic at the same time. One might not be quite as optimistic about the solutions. But one must recognise the salience of the challenges, writes Martin Wolf Tue, 10 Jun 2008 19:08 BSThttp://www.ft.com/cms/s/0/616526bc-3178-11dd-b77c-0000779fd2ac.htmlhttp://www.ft.com/cms/s/0/616526bc-3178-11dd-b77c-0000779fd2ac.htmlAchieving sustained, rapid growth turns out to be very hard. This is no objection to the findings of the Growth Report – it is, rather, an admission of how little we know about such a complex economic, social and political process, writes Martin Wolf Tue, 3 Jun 2008 17:41 BSThttp://www.ft.com/cms/s/0/5b04e654-2da9-11dd-b92a-000077b07658.htmlhttp://www.ft.com/cms/s/0/5b04e654-2da9-11dd-b92a-000077b07658.htmlIf a country is to join the eurozone, its people must be willing to cope with the consequences forever, writes Martin Wolf Thu, 29 May 2008 19:16 BSThttp://www.ft.com/cms/s/0/45654f9e-2bfd-11dd-9861-000077b07658.htmlhttp://www.ft.com/cms/s/0/45654f9e-2bfd-11dd-9861-000077b07658.htmlThe eurozone is a triumph as a monetary union. Yet it is much less so as an economic union. Its creation has not caused the acceleration in dynamism that proponents hoped for – if anything, structural reforms have slowed, writes Martin Wolf Tue, 27 May 2008 17:59 BSThttp://www.ft.com/cms/s/0/f860b602-2689-11dd-9c95-000077b07658.htmlhttp://www.ft.com/cms/s/0/f860b602-2689-11dd-9c95-000077b07658.htmlEverybody should remember, above all, that the opening of the world economy is the west's greatest economic policy achievement. It would be a tragedy if it were to turn its back on the world when the rest of humanity is at last turning towards it, writes Martin Wolf Tue, 20 May 2008 21:33 BSThttp://www.ft.com/cms/s/0/4ed4f618-2295-11dd-93a9-000077b07658.htmlhttp://www.ft.com/cms/s/0/4ed4f618-2295-11dd-93a9-000077b07658.htmlIn the 1970s, letting inflation rip, to avoid pain in the short run, increased it in the long run. The UK must not repeat that error, writes Martin Wolf Thu, 15 May 2008 19:08 BSThttp://www.ft.com/cms/s/0/219fcbde-2108-11dd-a0e6-000077b07658.htmlhttp://www.ft.com/cms/s/0/219fcbde-2108-11dd-a0e6-000077b07658.htmlOil is a finite resource; it drives global transport; and if emerging economies consumed it as Europeans do, world consumption would jump by 150 per cent. Don't blame the high price on speculators and big bad oil companies, says Martin Wolf. The reality is differentTue, 13 May 2008 19:09 BSThttp://www.ft.com/cms/s/0/52bf0f4a-1b8b-11dd-9e58-0000779fd2ac.htmlhttp://www.ft.com/cms/s/0/52bf0f4a-1b8b-11dd-9e58-0000779fd2ac.htmlUnless we are comfortable with a crisis every five years or so, financial regulation must be radically reconsidered. Tighter rules are desirable in the longer-run interests of the banking industry itself let alone the public's. What should such regulation look like, asks Martin Wolf Tue, 6 May 2008 19:52 BSThttp://www.ft.com/cms/s/0/7e9ae0ec-17aa-11dd-b98a-0000779fd2ac.htmlhttp://www.ft.com/cms/s/0/7e9ae0ec-17aa-11dd-b98a-0000779fd2ac.htmlMartin Wolf discusses the Bank of England's response to the credit crisis and the state of the UK economyThu, 1 May 2008 19:23 BST