Word: duckenfield
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Dates: during 2000-2009
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...invent, innovate, and take risks remains fundamental to the American dream. "There's an enduring view in the U.S. that the national economy is a powerful machine that crashes every now and again, but which eventually fixes itself and roars back to the front of the pack," says Mark Duckenfield, a professor of politics in the world economy at the London School of Economics. "The European leaders proposing this international regulation are generally conservative, not wild-eyed socialists. Still, any effort to come up with international rules applicable to the U.S. usually raises fears about American businesses finding themselves...
...Duckenfield notes that political conservatives such as Sarkozy and Merkel have a significant ally to their cause in British Prime Minister Gordon Brown, who, in spite of his nominally leftist Labour Party affiliation, has always been a market liberal. As recently as 2007, Brown opposed European calls for better regulation of hedge funds-investment schemes that had helped made London Europe's finance capital. But on Sunday, Brown wrote in Britain's Observer newspaper that finance markets and banks should be obliged to factor the collective interest of long-term economic gain into their activities, an effort he said should...
...currently holds the E.U.'s rotating presidency. In Sunday's meeting, Topolanek defended the liberal market orthodoxy of many central European members and the U.S. is likely to look to countries like the Czech Republic for support in defining some "lowest-common-denominator rules" that everyone can accept, says Duckenfield. Which may leave other European leaders talking tough but unable to get their...