The writer is a professor at the University of California, Berkeley, and the University of Cambridge. His latest book is Hall of Mirrors: The Great Depression, the Great Recession, and the Uses – and Misuses – of History.
On November 11, 1997, the Bank of England took a big step toward independence, courtesy of the second reading in the House of Commons of a bill amending the Bank Act of 1946. The bill gave legislative affirmation to the decision,
Understanding the political success of US President-elect Donald Trump is not easy. There have been many glib comparisons with populist politicians of the past, from Huey Long to George Wallace. But the most revealing comparison may be with an historical figure from another country: the British nativist firebrand Enoch Powell in the late 1960s and early 1970s.
For all these reasons, the golden age of stability and predictability that was the third quarter of the twentieth century seemed to have abruptly drawn to a close, to be succeeded by a period of greatly heightened uncertainty.