Where’s the economic strategy, Andy?

At the World Cup, a single misjudgment by the manager ended the England team’s hopes of reaching the final. In politics, Keir Starmer never recovered from sending Peter Mandelson onto the pitch. Luck, too, played a role in the downfall of both the Three Lions and the outgoing prime minister. But when football teams or politicians keep on failing, it cannot be explained by fortune alone. When Bill Clinton got elected in 1992, a newspaper dispatched me to Washington, where I followed his first two years in office. He had a lucky break during the election campaign, but did not owe his victory and political success to that. This was the new era of post-communist financial globalization. Many of the smart people at the time were on the center-left of politics, and Clinton was their man. He was