Britain’s Secretary of State for Energy Security and Net Zero (good luck with combining those) Ed Miliband has been working to accelerate the rate at which Britain runs the “race” to net zero since assuming office after the Labour party’s election victory in July 2024. Part of that acceleration will involve decarbonizing 95 percent of the U.K.’s electricity grid by 2030, an impossible objective. The people, equipment, and resources are not there. Nevertheless, the disconcertingly exuberant Miliband exudes the confidence of a Soviet central planner of the high Stalinist era, convinced that determination, coercion, and the arc of history will overcome all obstacles…

Wait, what?

In the third quarter Argentina’s GDP grew by 3.9 percent over the previous quarter, more than the 3.4 percent that was expected. This follows earlier signs of improvement and reinforces hopes of strong growth next year, albeit from a deep trough. Year-on-year, the quarterly numbers still show a decline of 2 percent (compared with the third quarter of 2023), but recovery must start somewhere…

We should not, or so we are told, judge a book by its cover, but when that book is an “Atlas of Finance”—and one of the two people featured on its cover, a clever tribute to banknotes, is Karl Marx (the other, reassuringly, is Adam Smith)—it’s reasonable to think that the image hints at what may be lurking inside….

ean McMeekin is a historian perhaps best known for his revisionist accounts of the Russian Revolution and World War II. He’s not afraid of a challenge. Nevertheless, while his thought-provoking new book, To Overthrow the World: The Rise and Fall and Rise of Communism, is well worth reading, it does not quite deliver — presumably, in part, for reasons of space — on the immense promise implicit in its subtitle. Moreover, the second “rise” of communism (if that’s what it is) turns out to be far from its second coming, which would otherwise be a not inappropriate phrase to use. Even in the secular form it has taken since Karl Marx’s time, communism is a religion in all but name, and one with obvious millenarian overtones…

Until gang warfare and the bombings that went with it broke Sweden’s calm (the consequences of recent mass immigration have proved rougher-edged than many Swedes chose to expect), the Nordic region had for a long time been renowned for its tranquility, making it somewhat surprising that it gave birth to Nordic noir, a genre of thriller often as chilly as the realm from which it emerged. Each Nordic country has its leaders in this field, and in Norway the top dog is Jo Nesbø, hip, stylish, something of a polymath (soccer player, stockbroker, musician), and the best-selling Norwegian author of all time, renowned above all for a series of often brutal stories (recommended) featuring Harry Hole, a brilliant, awkward Oslo detective with a fondness for the bottle…

In July 2007, José Manuel Barroso, the president of the European Commission (Brussels’ top bureaucrat) said rather a lot of the quiet part aloud. The European Union, he boasted, was an empire, an empire of new kind, a “non-imperial empire,” but an empire all the same. For some that had always been the idea. Europe’s former great powers could never, individually, restore the global preeminence they had enjoyed before the world wars. Maybe they could come close to doing so collectively. A united Europe could become a rival “pole” to the U.S., not an enemy, not militarily, but economically and as an exemplar to the rest of the world of a better way forward….

Ten or so months on, Argentina’s Javier Milei is still pressing on with his reforms, but even though the Argentine system gives a lot of power to the president, it doesn’t help that his still young party (LLA — La Libertad Avanza) only has 15 percent of the seats in Argentina’s lower house and about 10 percent in the Senate. Even with the help of allies it can only exercise some degree of control via ad hoc blocking minorities.

Midterms are due late next year, and, if a recent poll in Buenos Aires province is any indication (not that much: the midterms won’t be held until October next year, an eon away under current circumstances) the LLA should increase its representation significantly, although still well short of a majority…

However (very) bad Britain’s Conservative government may have been, the Labour government that has replaced it has proved to be infinitely worse. Much of this (such as the doubling down on net zero) was predictable, but Labour’s destructiveness has extended into areas — including (checks notes) the Indian Ocean — that have surprised even the gloomier pessimists.

Not long after taking office, Argentine president Javier Milei went to Davos, where he gave a memorable (#understatement) speech…

Sooner or later there comes a moment when central planners’ spreadsheets and targets run into reality. And it is rarely a happy moment. Some years ago, officials in the EU, UK, California, and other dim-bulb jurisdictions came up with the idea of imposing a quota system on automakers…