Experimental feature

Listen to this article

Experimental feature

This article is from today’s FT Opinion email. Sign up to receive a daily digest of the big issues straight to your inbox.

The Bank of England and the UK government this week put an end to speculation about governor Mark Carney's future by saying he planned to extend his term to 2020 to help the country weather its departure from the EU. Chris Giles writes in a weekend profile that the move reinforces the impression that Mr Carney, a former Goldman Sachs banker and Canadian minister, is the "grown-up in the room" among British policy makers.

Staying on also caters to Mr Carney's desire to be at the centre of the action, Chris writes, and may reflect the fact that the other jobs he is often linked to - IMF director and Canadian prime minister - appear to be out of reach. His new tenure has a certain irony to it: he has long said that Brexit will cost the UK dearly. Now his legacy will depend on how well he manages a policy that he disagrees with.

Emma Jacobs draws workplace lessons from the current White House contretemps over Bob Woodward's book and the anonymous official who claimed in the New York Times to be resisting President Donald Trump from within. She argues that "boss containment" - hiding bad news from a difficult manager - is a valid and vital strategy in some companies.

Andrew Edgecliffe-Johnson argues that Nike has deliberately picked a side in America's culture wars. Although hiring football quarterback Colin Kaepernick to front the sneaker company's latest campaign has alienated President Trump and his supporters, the controversy forces Nike's most dedicated fans to defend it and catches the eye of more neutral consumers. 

Conservative MP Jesse Norman tackles this week's much discussed "Prosperity and Justice" report, arguing that while it rightly seeks to redefine prosperity to include more than money, many of its proposals are unrealistic.

Best of the week

Why so little has changed since the financial crash— Martin Wolf

Cafés are the real thing for Coca-Cola— John Gapper

Five surprising outcomes of the 2008 financial crisis— Gillian Tett

The trap of Amazon’s pricing tactic— Rana Foorohar

An invitation to Hillary Clinton to go into Fox TV’s lair— Henry Mance

Wonga’s demise will not set workers free from the labour trap— Sarah O'Connor

Liberals, nationalists and the struggle for Germany— Gideon Rachman 

Lehman insider: why the bank could and should have been saved— Scott Freidheim

What you've been saying

Big discoveries can be made with little means: letter from Prof Peter P Edwards and others

Clive Cookson correctly highlights the 2012 breakthrough in the “new physics” of sub-atomic particles at the multibillion-dollar Cern facility near Geneva. It is salutary to recall even earlier discoveries of Henry Moseley beginning in 1912 of the sub-atomic composition of chemical elements of the periodic table. Using bench-top equipment in Manchester and then Oxford, Moseley discovered that the atomic number of a chemical element (the number of positive units of electricity in the atomic nucleus) was the fundamental property governing all its physical, chemical and biological properties. World-changing breakthroughs in fundamental science are also possible with modest means.

In response to "Five surprising outcomes of the 2008 financial crisis" , kodojin says:

The whole idea that rich people might go to jail is ludicrous. Jail is for the little people. The profits are private and the costs social - everyone knows that. If you didn't you are terribly naive.

WH Smith and survival of the most cynical: letter from Caroline Cole, London SE19, UK

Reading your articles about WH Smith, made me realise what a cynical world we live in. Voted the worst retailer on the UK high street, WH Smith has now secured a monopoly in airports. It continues to offer the same quality and the same service but in an environment where there is no competition. Hardly surprising that it makes money. Pity the poor airport consumer.

Today's opinion

FT Alphaville: Thoughts for the weekend

Economic fairness is a bipartisan challenge
IPPR’s analysis of the ills of the UK economy has much that is good

Paul Taylor, dancer and choreographer, 1930-2018
An unclassifiable genius who captured movement in many moods

Retribution over Russia will be hard to exact
The UK’s partial triumph in the Skripal case may prove a high point in intelligence and diplomacy

Person in the News: Mark Carney, a grown-up to steer the Brexit course
The Bank of England governor, who steadied British nerves after the referendum, pledges to stay

Nike picks a side in America’s culture wars
The trainer brand courts controversy with its Kaepernick ‘believe in something’ advert

Managing up, the White House way
Keeping things from the boss is often wise, as insider tips from Trump’s team show

FT Alphaville: The crypto periodic table (sigh)

Free Lunch: Central bankers must share the blame for post-crisis failings
The fact others acted wrongly does not mean monetary policymakers should be let off the hook

FT Alphaville: Making ends meet in Argentina

Ingram Pinn’s illustration of the week: Ground control
Insiders tell of White House chaos

Undercover Economist: Counting the costs of Brexit uncertainty Even if the no-deal fiasco never materialises, the prospect is causing damage today

FT Alphaville: Britain's first blockchain-enabled co-working space isn't blockchain-enabled

City Insider: City veteran Vereker sees off ghost of Nick Timothy from Number 10
After 30 years in the City, advising the prime minister must feel like a breeze

FT View

The FT View: The internal resistance in the White House
Officials’ opposition to President Trump is both a relief and a concern

The FT View: Shaky emerging markets watch the US and China
Welcome investor discrimination may not survive a serious shock

The Big Read

The Big Read: Emerging markets: Argentina creaks under extreme stress
With its reform programme under fire, the country risks tipping back into economic populism

Get alerts on Opinion when a new story is published

Copyright The Financial Times Limited 2019. All rights reserved.

Follow the topics in this article