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Manic culture caused eurozone woes

Western economies displayed the same kind of manic behaviour as psychologically disturbed individuals in the run-up to the 2008 credit crisis and it could happen again, a leading professor has warned.

Professor Mark Stein from the University of Leicester School of Management, says bankers, economists and politicians shared a manic culture of denial, omnipotence and triumphalism as they threw caution to the wind.

He says: “Witnessing the collapse of communism, those in power in the West developed the deluded idea that capitalist economies would do best if they eschewed any resemblance to those communist economies, thereby justifying unfettered financial liberalisation and the destruction of the regulatory apparatuses of capitalism.”

He says the consequences of this are still ongoing and are in part to blame for the eurozone crisis.


Marketwatch – June 2012

The rain in Spain stays mainly, well, everywhere at the moment, as eurozone leaders run around like headless chickens trying to sort out what to do next.

Automated systems need a human touch

According to Murphy’s Law, “If there’s more than one way to do a job and one of those ways will end in disaster, then somebody will do it that way.”


Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders


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