Hrkn to .. Thought for the Week

The major economic challenges confronting humanity — including the chronic and acute polarisation of wealth — are global in character, just as the major environmental issues. However, nations are too reticent to establish effective global governance to deal with them. All the signs are that Andy Burnham will take quite the opposite approach, with his emphasis on regional devolution within the Unit...

As the United States approaches the 250th anniversary of its independence, what better way for Donald Trump to anchor his legacy in the minds of all young people born during his presidency than granting them a $1,000 contribution when their Trump Account is opened? However, as Michael Dell and other philanthropists have shown, we need to focus on the most disadvantaged in order to break the cycle...

One of the extraordinary sights in nature is starling murmurations — hundreds of thousands of birds in what looks like a co-ordinated dance, but without any central control. It can be seen as a metaphor for humanity: individual freedom means charting your own way through life, but with respect for others. As yet again we face leadership in uncertainty, politicians need to learn that we don't need...

Starmer's clarion call for the 2024 General Election was 'Change', somewhat different from Tony Blair's 'Education, Education, Education'. However, in contrast to Blair's delivery in Government, Starmer has got stuck in a morass of inaction, bogged down by the crisis in public finances and an unwillingness to tackle the big issues. The biggest of these is welfare spending, major changes to which f...

On 29 August 2023 our commentary described the black hole of economics as its failure to recognise the opportunity to use the human life-cycle in order to empower new generations of disadvantaged young people with resources and life skills. Thanks to Cambridge University, we've now taken a major step forward with the Inter-Generational Rebalancing Conference, and it's time to plan the next stage a...

The direct nature of Pope Leo XIV's AI encyclical took some of his colleagues by surprise: as an AI expert Franciscan friar who has advised the Vatican says, ‘Papal documents usually speak in principles; this one names the structural problem — computational power is concentrated in the hands of a few private actors who answer to no democratic process’. The jury is still out on the impact of Artifi...

There has been a spate of reports on youth unemployment recently, and Alan Milburn will warn of 'a generational, societal and economic catastrophe’ if we don't recognise that the welfare state was built for a different era, and must now change. The impact of such substantial debt, in both personal and public contexts, of Artificial Intelligence and the pervasive influence of social media present r...

Journeys of hope move forwards, not backwards; they need to keep moving, not get stuck in a rut. They need to build progress as we go forward, by discovering more about human capability and understanding. In this context, we somehow need to tackle the major challenges necessary in order to focus on global, not just national or regional, problems. Looking back at European Union membership with rose...

The collapse in electoral support for both Labour and the Conservatives shows the extent to which central governments have become a black hole for people's economic wellbeing by freezing tax thresholds, clinging on to universal (as opposed to targeted) welfare, and failing to address the gulf of opportunity which is holding back so many young people. It's time for politicians of all colours to ref...

Paul Johnson's new book, 'Challenging Inequalities', sets out graphically the barriers to opportunity for young people whose early years are spent in disadvantage and poverty. When Sir Keith Joseph referred to breaking the cycle of deprivation, he wasn't referring to negative impositions from central government but looking for ways to deliver individual opportunity in order to give everyone the ch...

'Contemporary global inequalities are close to their early 20th century level, at the peak of Western imperialism': the World Inequality Report in 2022 laid bare the failure of the past one hundred years of socialism. It has failed to make any appreciable impact on wealth polarisation — in fact Russia has the highest wealth inequality in the world alongside Brazil, with a 'Gini Coefficient of 0.82...

Adam Smith's 'Wealth of Nations', now celebrating its 250th anniversary, celebrates the role of competition from the perspective of service providers; however the merit of enabling individual choice to underpin a sense of ownership and responsibility is central to individual empowerment. Meanwhile the key concepts of egalitarian capitalism should work alongside Adam Smith's time-proven economic an...

Merryn Somerset Webb is Editor-in-Chief of MoneyWeek and a contributing editor and weekly columnist for the Financial Times. She has published a book called 'Share Power', showing not only where capitalism is going wrong, but also how every one of us can have the power to make it work for us. Larry Fink, Chair and CEO of BlackRock, also understands the problem. However 'Participation for all' is t...

Temper tantrums do not solve fights in the playground, and they certainly don't resolve international disputes. If we are concerned about young people under the age of 16 having access to social media in order to reduce the risks to which they are exposed, we should certainly be concerned about the existential risks to which we are all exposed as a result of this 'Epic Fury' being unleashed on the...

The young owners of over two-thirds of all Child Trust Funds reach adulthood at the end of March 2026, but very large numbers of HMRC-allocated accounts remain unknown and unclaimed, including almost three-quarters of the £1 billion belonging to low-income young adults: the position is particularly acute in the north of England and devolved nations. These are accounts for which HM Treasury/HMRC ar...

The current state of humanity could well be giving rise to a degree of despair in divine quarters: we certainly don't seem to have learnt much over the past two thousand years. With Easter now only just over a week away, perhaps it's time to see how a deeper understanding of logic and unconditional love could contribute to religious insight. Background music: 'Pastorale' by Joel Cummins Share Radi...

For the past fifty years the world's conflicts have been powered by our addiction to oil, while the climate has continued to suffer. If concern about our environment is insufficient to break this addiction, perhaps the straw that breaks the camel's back is more likely to be the immense geopolitical and economic instability which results from relying on regions such as Russia and the Middle East. C...

Donald Trump's comment about Keir Starmer being 'No Churchill' wholly overlooks Churchill's part in destabilising Iran when the UK and US were the prime movers behind the 1953 coup d’état — or was he perhaps making reference to that? What followed was 26 years of authoritarian rule by the Shah, which brought about the 1979 Islamic revolution — then the past 47 years of more authoritarian rule. It'...

The past half-century has provided a generally well-structured approach to employment and career opportunities, but there's little reliability or predictability today. Increasingly, young people cannot rely on others to sort their lives out for them: they need to take matters into their own hands. Could it be the time for entrepreneurial activity to move from the margins to the centre-ground? Back...

President Trump has learnt the hard way that he can't just impose tariffs by Executive Order. The U.S. Supreme Court may be beefed up by his own nominees, but they have shown that they do understand the law. We're now beset by uncertainties: on tariffs, refunds, exchange rates and U.S. public debt. The financial markets hate uncertainty, and his 150-day 'Section 122' tariffs won't fend off the ris...

There are a host of big issues facing young people, but lowering the voting age to 16 is not one of them. Student debt post-graduation is one of the biggest: as Gavin Williamson says, ‘Saddling young people with eye-watering debts before they have even begun their working lives is more than unfair: it amounts to a levy on ambition'. Why can politicians not get out of the mindset of pandering to th...

Starmer has learnt the hard way that without truth there can be no trust. But throughout society people feel that they cannot take anything at face value, and the deception and dishonesty which riddles social media are significantly exacerbating this problem. The need for a moral compass is heavily tested without faith: GK Chesterton said, 'When people stop believing in God, they'll believe in any...

Universal Basic Income is frequently cited as the way to cope with the growing spectre of AI-driven mass unemployment; but there are few, if any, workable ideas on how to fund such welfare subservience. Universal participation would not only enable all to share in tech wealth creation, but also allow tech companies to benefit from people's involvement. Background music: 'Forever Yours' by Wayne Jo...

There's been much discussion about the social media and NEET challenges for young people over the past week: the Bigger Picture reports on debates in parliament and The Hypnotist reflects on the importance of experience built up during childhood: experience that can be severely handicapped by social media addiction. Meanwhile the steady erosion of a moral compass for young people could result in s...

We're getting increasingly used to Donald Trump's bullying tactics; it's time to encourage U.S. tech leaders to persuade him to back off, by applying the same (Greenland-based) level of tariffs on their exports to Europe and the UK. Meanwhile, ID verification should not be used so much to restrict young people from work in the UK as to help them make a good start to adult life in their countries o...