Daily Telegraph
Britons must steel themselves for a sharp fall in living standards
Britons must steel themselves for a fall in living standards which could be as sharp and painful as in the 1970s, as the western world faces up to a new era of stagflation, a former Bank of England policymaker has warned. Willem Buiter, [Chair in European political economy at LSE] one of Gordon Brown's first appointees to the Bank, said Britons face a ‘painful couple of years’, and urged the Monetary Policy Committee to raise rates twice to cap inflation.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/09/
cnpain109.xml

US News & World Report
A New US Export: the housing slump
The Royal Institution of Chartered Surveyors, a real estate group, just issued one of its gloomiest membership surveys ever: Eighty-two percent of members reported falling prices between January and April. For this, experts here are blaming the global credit crunch brought on by America's subprime mortgage fiasco. It has pulled the plug not only on Britain's housing market but also on many others around Europe. ‘Everywhere, there are problems,’ says Christine Whitehead, a housing economist at the London School of Economics. The subprime losses have made banks risk averse, hindering interbank lending. That results in less money available for mortgages.
(Source: Lexis)

Scotsman
The next wave of pension scandals
Article by Ros Altmann, a leading pensions expert and governor of the London School of Economics and the Pensions Policy Institute.
http://business.scotsman.com/business/The-next-wave-of-pension.4163282.jp

Daily Mail
City & Finance in brief
Charlie Bean, the Bank of England's chief economist, will be elevated to deputy governor at the central bank when Rachel Lomax retires at the end of this month, according to sources. Like Bank governor Mervyn King, Bean is a former London School of Economics academic. The appointment makes Bean the firm favourite to eventually succeed King, who also served as chief economist and deputy governor.
(Source: Lexis)

Sunday 8 June

Sunday Times
Don’t bank on banking, graduates told
THE ambitious student hungry for that job in banking with its enticing salary and bonuses may have to put his or her plans on hold for a while. Fiona Sandford, head of the careers service at LSE comments.
http://www.timesonline.co.uk/tol/life_and_style/career_and_jobs/recruiter_forum
/article4086674.ece

Observer
Kremlin leaves BP shaken, but it won't stir
But Margot Light, a professor of international relations at the London School of Economics, says there has been no fall-off in foreign investment in Russia because Western companies can operate in the country - and make good profits - as long as they are prepared to 'play by a different set of rules'.
http://www.guardian.co.uk/business/2008/jun/08/bp.oil

Canada Free Press
Cocaine use rises after three years of decline
Cocaine use among young people in Britain is on the rise after three years of decline, a survey showed last week. More than one fifth of 16 to 24 year-olds admitted using the drug once a month in the latest figures for 2005-06 compared 17.2 per cent in 2003-04, according to the European Union’s drugs agency. Meanwhile, cannabis use in the UK has fallen from 46.9 per cent in 2003-04 to 41.2 per cent.
http://canadafreepress.com/index.php/article/3420

Boston Globe
Making friends
Since friendship offers so many benefits to individuals and society, some scholars argue that government has a role in promoting it. Richard Layard, an economist at the London School of Economics, is involved in an initiative in the UK called the Good Childhood Inquiry, which has deemed friendship one of the six criteria of a good childhood. Toward that end, it recommends play spaces for children and youth centres for adolescents.
http://www.boston.com/bostonglobe/ideas/articles/2008/06/08/making_friends/
?rss_id=Boston+Globe+--+Today%27s+paper+A+to+Z

Saturday 7 June

The Spectator
The great box-ticker takes charge; the FSA’s new chairman
The Financial Services Authority has had only two chairmen since its creation in 1997, and as the Northern Rock debacle happened on the watch of the second incumbent, Sir Callum McCarthy, the model for his replacement is inevitably the original holder, Sir Howard Davies. On that basis, Adair Turner - Lord Turner of Ecchinswell - ticks all the boxes. Both are former McKinsey men; Turner followed Davies as director-general of the CBI; Turner is a visiting professor at the London School of Economics, where Davies is now director.
(Source: Lexis)

Financial Times
Letters - Two different tasks requiring two dedicated centres
Letter to the editor from Mr Roger Alford, emeritus reader in economics, LSE.
http://www.ft.com/cms/s/0/f4eb9794-342b-11dd-869b-0000779fd2ac.html
?nclick_check=1

Late-edition headlines

Liverpool Echo
Pupils showing real enterprise
A national enterprise competition involving more than 30,000 UK school pupils is coming to Liverpool next month to celebrate the city’s Capital of Culture status. The Lionheart Challenge was launched in 1999 to encourage business and enterprise skills among children. Sir Howard Davies, London School of Economics director, also backed the scheme. He produced a review of enterprise and the economy in education for the government and said: ‘The Lionheart Challenge is just the kind of programme which my report saw as central to the future development of ‘enterprise capability’ in schools and colleges in the UK.’
http://www.liverpoolecho.co.uk/liverpool-news/business-news/2008/06/06/
pupils-showing-real-enterprise-100252-21034654/

Guardian
German directorships not the sinecure they once were
The cosy relationships enjoyed by companies, managers and labour representatives in Germany have their roots in the aftermath of the Second World War, says Tom Kirchmaier of the London School of Economics' corporate governance programme. German society pulled together to rebuild the country's shattered infrastructure and accumulate capital, while labour leaders agreed to restrain wage rises in exchange for influence over the way companies were run, he says.
http://www.guardian.co.uk/business/feedarticle/7567593

Reuters
Weber says markets have understood ECB signal
Financial markets have clearly understood the European Central Bank's central message on a possible July hike in interest rates, ECB Governing Council member Axel Weber said [at LSE] on Friday.
http://www.reuters.com/article/bondsNews/idUSBAE00124420080606
Also in
• FX Street
ECB Weber: tiny fraction of assets at ECB untradable
http://www.fxstreet.com/news/forex-news/article.aspx?StoryId=9bc467af-5e19
-4b32-86b7-9e2080cf4418
• Bloomberg
ECB's Weber says markets are still ‘tense,' crisis not over
http://www.bloomberg.com/apps/news?pid=20601100&sid=anbVuq3c6wcw
&refer=germany

Spiked
Ask Ethan
Look, you know and I know that the planet is massively overcrowded, and – as John Gray of the London School of Economics says – the human population must be reduced to no more than 0.5billion quicksmart.
http://www.spiked-online.com/index.php?/site/article/5233/

Michigan Ross School of Business
Ross Community Mourns Loss of Beloved Professor
Obituary of Professor W Allen Spivey, who was previously a visiting professor at LSE.
http://www.bus.umich.edu/NewsRoom/ArticleDisplay.asp?news_id=13131

Vox (4 June)
Will the credit crunch lead to recession?
Nick Bloom’s column argues that the wave of uncertainty troubling the markets will likely induce a recession – and render policy instruments powerless to prevent it.
http://www.voxeu.eu/index.php?q=node/1198

LSE people on TV/radio

Channel 4
Dispatches, 8pm tonight
Tonight’s programme asks – Gordon Brown: where did it all go wrong. Anne Lapping, governor and member of Council at LSE, is executive producer of this show.
http://www.channel4.com/news/articles/dispatches/gordon+brown+where+did+it
+all+go+wrong/2271882

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