Martin Vander Weyer

Martin Vander Weyer

Martin Vander Weyer is The Spectator’s business editor

Big is not therefore ugly

As in warfare and international relations, the Brits punch above their weight in the debate about globalisation and the onward march of the transnational market economy. The Guardian columnist George Monbiot, in The Age of Consent (Flamingo 2003), was the first anti-globalisation campaigner to offer a coherent manifesto for a movement which until then had tried to make a virtue of all-embracing incoherence. John Kay of Oxford and the LSE, in The Truth about Markets (Penguin/Allen Lane 2003), offered a brilliant analysis of why rampant capitalism does not need to be replaced — as anti-globalisers’ placards proclaimed at Seattle — by ‘something nicer’, but why it only delivers widespread benefits where it flourishes in well-ordered civic societies.

Don’t feel sorry for the City

Here are four connected facts. First, on Monday, Standard Life - one of Britain's most respected investment institutions - cut the value of its payouts to 2.3 million pension savers by 15 per cent. Second, some 30,000 people have lost their jobs in the City of London this winter - including Alex, the cartoon archetype invented by Charles Peattie and Russell Taylor, who was given the heave-ho by 'Megabank' a couple of weeks ago. Third, also on Monday, Gordon Brown gave a rambling speech to the Social Market Foundation in praise of his own economic policies, in the midst of which he made a single, brief reference to investors, claiming to understand their concerns.

Simple, spray-painted slogans

An awful lot has happened since the Canadian journalist Naomi Klein shot to radical prominence with the publication of No Logo, the first sacred text of the anti-globalisation movement, shortly after her co-religionists besieged the 1999 world trade talks in Seattle. They went on to wreck the World Bank/IMF meeting in Prague and, less successfully, to try to disrupt the G7 Genoa summit in July 2001, though we now know that the extraordinarily heavy security which thwarted them at Genoa was primarily designed to ward off murderous Al-Qaeda terrorists, rather than paint-spraying, slogan-chanting anti-globalisers.