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Edmund Conway

Dear Apple, I'm leaving you

Dear Apple, I'm leaving you

There follows a letter to Tim Cook, chief executive of Apple: Dear Tim, There’s no easy way to put this so I’ll just come right out with it. I’m leaving you. It’s been great (mostly) but it’s over. I figured the least I could do

Unequal world: enormous gulf in incomes between countries and regions

Brilliant graphic from the OECD showing the disparity in disposable incomes between different regions. As you can see, disposable incomes in the richest region of Paris (Ile de France) are roughly in line with the lowest-paid region of the United States. UPDATE (13:45): As a number of you have

Central London is no longer the most lucrative place in Europe

Central London is no longer the most lucrative place in Europe

[https://i1.wp.com/www.edmundconway.com/wp-content/uploads/2012/10/disposable.jpg?ssl=1] Before the financial crisis, inner London had the highest level of average disposable income (eg post-tax take-home pay adjusted for inflation) in Europe – peaking at almost €30,000 per person. According to Eurostat figures, it

Limited liability is the real issue with banks

Steve Cecchetti at the Bank for International Settlements hits the nail on the head in this speech on financial regulation [http://www.bis.org/speeches/sp121030.pdf] [pdf]: The fundamental problem is that the private interests of banks and bankers can diverge from those of society at large. This is

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[https://i0.wp.com/www.edmundconway.com/wp-content/uploads/2012/10/constructbad.jpg?ssl=1] Four years on from the start of the crisis, the output of Britain’s construction sector is still 18% down – worse than in the last two recessions. From a speech by Ben Broadbent of the

How GDP Is Put Together Really Matters

How GDP Is Put Together Really Matters

I’ve covered economics for a decade or so, but I confess that until very recently I didn’t really know what GDP really is. I mean, like most of you I knew it was the broadest and most widely-used measure of our economy’s health – that it determines whether

Did David Cameron just divulge tomorrow's GDP figures?

Did David Cameron just divulge tomorrow's GDP figures?

The Prime Minister caused a bit of a stir earlier today by apparently hinting that tomorrow’s GDP figures might be positive. In Prime Minister’s Questions David Cameron said “the good news will keep on coming”. Apparently some traders ended up making a turn [https://twitter.com/RedFxTrade/status/