John Gapper: Halt the Silicon Valley histrionics The internet industry scored a tactical victory this week with Wednesday's blackout of sites such as Wikipedia and Reddit, and the White House's decision to oppose parts of two bills intended to curb the file-sharing of films and copyrighted material, says the FT's Gapper. By refusing to engage in a serious effort to prevent it - instead of equating copyright enforcement with censorship, or with "breaking the internet" - it undermines its credibility. Ed Miliband: Our toxic blend of capitalism and short-termism What is surprising about the current debate on the future of capitalism is not that it is taking place but that it has taken fully three years since the global financial crisis for this to reach a pitch, writes Miliband, the leader of the Labour party. Qin Xiao: Long march ahead to a truly capitalist China It was widely believed in the early 1950s that the socialist Chinese government was the saviour of the poor and the free market an evil to our society, writes Xiao, chairman of the Boyuan Foundation, and former chairman of China Merchants Group and China Merchants Bank. Satyajit Das: Trust no one with your money is the tragic legacy of the crisis The first casualty of war is said to be the truth but, in financial crises, it is trust that dies, writes Das, author of Extreme Money: The Masters of the Universe and the Cult of Risk. Beppe Severgnini: Italy's recurring tragedy: the quest for bella figura Italy seems to have a knack for plunging into spectacular messes, writes Severgnini, a political commentator and author of Mamma mia! Berlusconi's Italy Explained for Posterity and Friends Abroad. Editorial comment: Hermetic Old Lady This newspaper strongly supports the independence of central banks. This is why the Bank of England's proposals for its own oversight give cause for concern. Central banks must face accountability to safeguard the public's trust in their competence, without which their independence cannot last. As it assumes new powers and responsibilities for the stability of the financial system, the Bank in particular should accept robust scrutiny of its conduct. Lex on Goldman Sachs The investment adage that you're better off working for a bank than owning shares in one is mostly true. At Goldman, again, lowering 2011"s full-year wage bill by a third would have increased its ROE from 7 to 12 per cent, all other things being equal. Markets Insight: Robert Parker - Equities will look more attractive later in 2012 Since early October, the MSCI World Equity Index has climbed more than 10 per cent, notes Parker, a senior adviser Credit Suisse. This entry was posted by Izabella Kaminska on Thursday, January 19th, 2012 at 8:04 and is filed under Uncategorised.