Articles by Harold James

Financial Weapons of Mass Economic Destruction

The approach of the 100th anniversary of the outbreak of World War I in 1914 has jolted politicians and commentators worried by the fragility of current global political and economic arrangements.

Why Modern Growth Leads to So Much Depression

With today's electronic surveillance, personal dependence has never been so humiliating.

What Europe Can Learn From the 'Iron Lady'

Former British Prime Minister Margaret Thatcher was much more respected outside Britain than she was in her own country.

Why Europe Is Singing a Dirge Over Cyprus

Even moderate Cypriots were outraged by the bullying of their small island by the EU.

A European Marriage That Was Bound to Fail

Driven by promises of prosperity and security, the EU expected wedded bliss from the union.

The EU's Biggest Problem Is a Leadership Deficit

In constructing Europe's monetary union, political leaders did not think through all the implications, which led to major design flaws. Even worse, they do not appear to have learned from that experience, for they are about to take the same approach to the monetary union's political analogue.

Why August Is the Worst Month for the Markets

Summer is a time for beaches and relaxation Ч and, historically, for all sorts of destructive crises. Time and again, it has proven dangerous for the world to be on holiday.

How the Crisis Gives People Schadenfreude

The protracted financial and economic crisis discredited first the U.S. model of capitalism and then the European version. Now it looks as if the Asian approach may take some knocks, too. Coming after the failure of state socialism, does this mean that there is no correct way of organizing an economy?

IMF Needs Leader to Oversee New World Order

How the mighty International Monetary Fund has fallen. More than a decade ago, the French magazine Paris Match carried a picture of the IMF's then-managing director, Michel Camdessus, with the title: "The Most Powerful Frenchman in the World." Today, his successor is the most humiliated Frenchman in the world.

Liars, Liars Ц Pants on Fire

In the Machiavellian tradition, lying is sometimes justified by reference to the higher needs of political statecraft. That tradition is once again in the spotlight, as the question of political untruth has recently resurfaced in many bitter disputes.

The BRIC Globalizers

The winners of the great globalization push of the 1990s were small states, such as New Zealand, Chile, Dubai, Finland, Ireland, the Baltic countries, Slovenia and Slovakia. The East Asian tigers that pushed themselves onto the world economy's center stage were small units, and in some cases -- Singapore, Taiwan, or Hong Kong -- were not even treated as states. Even South Korea, which is a giant in comparison, was only half a country.

Capitalism With Family Values

The now likely takeover of European steelmaker Arcelor by a family-run company, Mittal Steel, has been viewed by its critics -- especially in the French and Luxembourg governments -- as a betrayal of old continental European traditions to the new cost-cutting imperative of globalization.