Unless Europeans and Americans reform government by cutting back its functions and adopting the best practice in delivering services, from Indian medicine to Singaporean welfare, they risk being overtaken by China and other rivals.

'Mark Carney has undermined what many viewed as a basic premise of the UK inflation-targeting regime'

The backlash against neoliberalism has revived anti-capitalist conspiracy theories. Those under attack must not behave like a sect

'Paul Ryan will thrash Joe Biden in debate and the Tea Party will enthusiastically endorse their poster boy but Romney's choice of running mate will attract few new voters'