High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our T&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights.
https://www.ft.com/content/b5b764cc-d657-11e6-944b-e7eb37a6aa8e
(function() {
var ARTICLE_URL = window.location.href;
var CONTENT_ID = 'everything';
document.write(
'<scr' + 'ipt ' +
'src="//survey.g.doubleclick.net/survey?site=_ykzfqallocklxfmrw3y6sankbe' +
'&url=' + encodeURIComponent(ARTICLE_URL) +
(CONTENT_ID ? '&cid=' + encodeURIComponent(CONTENT_ID) : '') +
'&random=' + (new Date).getTime() +
'" type="text/javascript">' + '\x3C/scr' + 'ipt>'
);
})();
By continuing to use this site you consent to the use of cookies on your device as described in our cookie policy unless you have disabled them. You can change your cookie settings at any time but parts of our site will not function correctly without them.
Dismiss cookie message
Accessibility help
Skip to navigation
Skip to content
Skip to footer
Subscribe to the FT
Sign In
Subscribe
Menu
Search
Financial Times
myFT
Search the FT
Search
Close
Home
World
Sections
World Home
World Economy
UK
US
China
Africa
Asia Pacific
Emerging Markets
Europe
Latin America
Middle East and North Africa
Most Read
Donald Trump picks son-in-law Jared Kushner as his senior adviser
Falling pound ignores May defence and hard Brexit denial
Trump hits back at Streep over Golden Globes attack
South Korea forms unit to kill Kim Jong Un in event of war
The black market trade in Isis fighters
US
Sections
US Home
US Economy
US Politics & Policy
US Companies
US Election 2016
Most Read
Donald Trump picks son-in-law Jared Kushner as his senior adviser
Trump hits back at Streep over Golden Globes attack
Trump presidency: America First or America Alone?
Donald Trump will win his battle with the spies
Dirty money: Trump and the Kazakh connection
Companies
Sections
Companies Home
Energy
Financials
Health
Industrials
Media
Retail & Consumer
Technology
Telecoms
Transport
Most Read
Deutsche Bank turns to social media to hire young talent
VW top management ‘authorised concealment’ of emissions cheating
Google keeps self-driving cars offline to hinder hackers
Big Tobacco’s technology battle heats up
South-east commuters hit by second day of transport chaos
Markets
Sections
Markets Home
fastFT
Alphaville
Markets Data
Capital Markets
Commodities
Currencies
Equities
Fund Management
Trading
Most Read
Pound dips to lowest level since October on May’s Brexit comment
Falling pound ignores May defence and hard Brexit denial
Eager investors set to make Trump press show a hit
Turkey left in not-so-splendid isolation
Sterling slides for second day, Iran pays respects and flatpacking a dinosaur
Opinion
Sections
Opinion Home
Columnists
FT View
The Big Read
Instant Insight
Lex
Alphaville
Blogs
Obituaries
Letters
Most Read
Theresa May is decisive over Brexit but we choose not to listen
Trump presidency: America First or America Alone?
Donald Trump will win his battle with the spies
Data capitalism is cashing in on our privacy . . . for now
US tax reform is vital but Donald Trump’s plan is flawed
Work & Careers
Sections
Work & Careers Home
Business School Rankings
Business Education
Entrepreneurship
Recruitment
Business Books
Most Read
Lucy Kellaway’s jargon awards: corporate guff scales new heights
Sushi addicts need to be aware of mercury toxicity risk
Apologies: how getting them right makes you look good
Advertising’s problems are symptoms of a nastier disease
Why your new year resolutions are not working
Life & Arts
Sections
Life & Arts Home
Arts
Books
Food & Drink
FT Magazine
House & Home
Style
Travel
Most Read
Trump hits back at Streep over Golden Globes attack
The Life of a Song: Fleetwood Mac’s ‘The Chain’
When trolls go mainstream: Milo Yiannopoulos and his toxic rants
Gut instinct: why more fat may be the best way to lose weight
Why the writing is on the wall for pompous Michelin-star dining
Sign In
Subscribe
Menu
Search
Home
World
US
Companies
Markets
Opinion
Work & Careers
Life & Arts
Financial Times
Sign In
Subscribe
Search the FT
Search
Close
Barack Obama
Add to myFT
How Barack Obama rescued the US economy
Given the starting point, and congressional opposition, recovery has been remarkable
Martin Wolf
Read next
Intelligence study says Putin ordered campaign to sway US election
37
Print this page
Save
5 hours ago
by: Martin Wolf
How should we assess the economic success or failure of Barack Obama’s presidency?
Sample the FT’s top stories for a week
You select the topic, we deliver the news.
Select topic
Select topic
Top Stories
Brexit
US Election 2016
China slowdown
Millennial Economy
March of the Robot
Plunging oil price
Global Terror
Tech disruption
Advertising
Connected Cars
Enter email address
Invalid email
Sign up
By signing up you confirm that you have read and agree to the terms and conditions, cookie policy and privacy policy.
This is a difficult question to answer. After all, the incumbent of the White House cannot determine the performance of the huge and complex US economy. Indeed, policy initiatives usually have a modest impact. But the story of Mr Obama’s presidency is a little different from the usual, since it began amid the worst financial crisis since the 1930s. If we consider the disaster he inherited and the determination of the Republicans in Congress to ensure he would fail, his record is clearly successful. This does not mean it is perfect. Nor does it mean the US confronts few economic challenges. Neither statement would be close to correct. Yet it does mean he has laid a strong foundation.The latest Economic Report of the President analyses the Obama record. It is also the brief for the defence. But Mr Obama’s Council of Economic Advisers does first-rate analysis. This report is no exception to that rule. The starting point must be with Mr Obama’s inheritance: the economy was in free fall in early 2009. As the report notes, perfectly correctly: “It is easy to forget how close the US economy came to an outright depression during the crisis. Indeed, by a number of macroeconomic measures . . . the first year of the Great Recession . . . saw larger declines than at the outset of the Great Depression in 1929-30.” Responsibility for the successful recovery does not rest with this administration alone: the administration of George W Bush was responsible for the immediate response (though bearing some responsibility for the severity of the crisis); the US Federal Reserve acted effectively; and Congress passed important legislation. Yet, shockingly, most congressional Republicans opposed all significant monetary, financial and fiscal actions taken to deal with the crisis.Related article
US wages grow at fastest rate since financial crisis
Final jobs report of Obama era indicates growing inflationary pressure
The Obama administration implemented a number of important fiscal measures, notably the American Recovery and Reinvestment Act of 2009. It also provided strong moral support for the Fed (including the reappointment of Ben Bernanke, who had been President Bush’s nominee). The administration also restored the financial sector faster than expected and carried out a highly successful rescue of the car industry. Meanwhile, Republicans decried the fiscal stimulus, complaining about the huge fiscal deficits caused by the crisis. Yet it was as absurd to complain about deficits then as it is to slash taxes now, when the economy seems close to full employment. Some Republicans claimed Fed policies risked hyperinflation. Most opposed the re-regulation of the financial sector and savaged the bailout of the car industry. Yet President-elect Donald Trump might not be in a position to bully automakers today if they had not been rescued back then.In all, given the starting point, the performance of the economy has been remarkable. The unemployment rate has consistently fallen faster than expected. US business has also added 15.6m jobs since private-sector job growth turned positive in 2010. Real wage growth has been faster in the present cycle than in any since the early 1970s. In the third quarter of 2016, the economy was 11.5 per cent bigger than at its pre-crisis peak and real gross domestic product per head was 4 per cent above the pre-crisis peak, while that of the eurozone was still below it. Household net worth has also reached 50 per cent above its 2008 level.Yet Mr Obama was interested in more than economic recovery. He tried to move the US closer to the universal health insurance taken for granted in other high-income countries. The Affordable Care Act (“Obamacare”) has added an estimated 20m adults and 3m children to the insurance rolls. Healthcare costs have also grown exceptionally slowly since the law was enacted, relative to past US performance. These are all genuine achievements. Yet some problems could not be cured. First, US economic outcomes have become exceptionally unequal, despite a modestly progressive shift in the impact of fiscal policy under Mr Obama. Doing something effective about this was beyond his powers, both because it is difficult and because his opponents had no interest in helping. Second, the participation in the labour force of prime-aged males (25 to 54) has been on a 60-year downward trend, while that of prime-aged females has flatlined for three decades. This is a poor performance by the standards of most high-income economies. It is impossible to argue credibly that this is the result of particularly generous US welfare benefits or particularly high minimum wages. The failure is deeper.Third, growth of labour productivity has slowed sharply, though it was still higher than in other members of the Group of Seven leading high-income countries between 2005 and 2015. The reasons for this slowdown are a puzzle. Possibilities include the post-crisis weakening of business investment and a broader post-crisis loss of animal spirits. It is also likely that the underlying rate of innovation is slowing. Some argue that this is the result of excessive regulation. The next administration is set to test that hypothesis to destruction.Finally, the US has a key role to play in tackling the threat of unmitigated climate change. In the absence of any consensus on this question in the US, Mr Obama relied on executive actions, which will now presumably be reversed.In all, the administration rescued the US economy and bequeathed a sound foundation for its successor to build on. But it made a big mistake: it did not go all out to punish those whose malfeasance and irresponsibility blew up the financial system and economy. This sense of injustice is one reason why the US has elected the wrecking crew that is about to take office. Mr Obama could not channel rage. Mr Trump, alas, can.martin.wolf@ft.com
try {
_402_Show();
} catch(e) { }
Copyright
The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web.
37
Print this page
Save
Latest on Barack Obama
Intelligence study says Putin ordered campaign to sway US election
Republicans put their focus on cutting red tape
Trump says hacking did not influence US election
US wages grow at fastest rate since financial crisis
Fast FT
US wage growth fastest since 2009
Latest on Barack Obama
Add to myFT
Cyber Warfare
Intelligence study says Putin ordered campaign to sway US election
Russian cyber attacks were motivated by ‘clear preference’ for Donald Trump
US Politics & Policy
Republicans put their focus on cutting red tape
Congress takes first steps to enact Donald Trump’s promise of reducing regulation
Cyber Warfare
Trump says hacking did not influence US election
President-elect fails to endorse findings of intelligence agencies after briefing
Latest in Columnists
Add to myFT
Anne-Sylvaine Chassany
Healthcare will prove a reform too far for François Fillon
The centre-right candidate tampers with the ‘Sécu’ at his peril
new
48 minutes ago
Sarah O'Connor
The highs and lows of hipster capitalism
Artisanal globalisation offers some control but cannot fix all economic problems
3 hours ago
Free Lunch
Martin Sandbu
Learn to love the real job killer
Premium
Trade protectionism will not stop the advance of automation
myFT
Follow the topics mentioned in this article
Columnists
Add to myFT
Republican Party US
Add to myFT
Council of Economic Advisers
Add to myFT
United States of America
Add to myFT
Global Economy
Add to myFT
Follow the authors of this article
Martin Wolf
Add to myFT
Take a tour of myFT
{"moreOns":[{"attributes":[],"taxonomy":"people","primary":"theme","primaryTag":true,"idV1":"TnN0ZWluX1BOX1BvbGl0aWNpYW5fMjM=-UE4=","prefLabel":"Barack Obama","url":"https://www.ft.com/topics/people/Barack_Obama","relativeUrl":"/topics/people/Barack_Obama","title":"on"},{"attributes":[],"taxonomy":"sections","primary":"section","teaserTag":true,"idV1":"MTE3-U2VjdGlvbnM=","prefLabel":"Columnists","url":"https://www.ft.com/comment/columnists","relativeUrl":"/comment/columnists","title":"in"}],"package":[]}
Welcome to the new FT.com.
The same global insight. Faster than ever before on all your devices.
View tips
Give feedback
Welcome to the new FT.com.
The same global insight. Faster than ever before on all your devices.
View tips
Give feedback
Support
Feedback
Help Centre
About Us
Accessibility
Legal & Privacy
Terms & Conditions
Privacy
Cookies
Copyright
Services
Conferences & Events
Individual Subscriptions
Group Subscriptions
Republishing
Contracts & Tenders
Analysts Research
Executive Job Search
Advertise with the FT
Follow the FT on Twitter
Ebooks
Tools
Portfolio
ePaper
Alerts Hub
Lexicon
MBA Rankings
Economic Calendar
News feed
Newsletters
Currency Converter
Press Cuttings
More from the FT Group
Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD .
FT and ‘Financial Times’ are trademarks of The Financial Times Ltd.
The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice.
Financial Times
Close
International Edition
Search the FT
Search
Switch to UK Edition
Top sections
Home
World
Show more World links
World Economy
UK
US
China
Africa
Asia Pacific
Emerging Markets
Europe
Latin America
Middle East and North Africa
US
Show more US links
US Economy
US Politics & Policy
US Companies
US Election 2016
Companies
Show more Companies links
Energy
Financials
Health
Industrials
Media
Retail & Consumer
Technology
Telecoms
Transport
Markets
Show more Markets links
fastFT
Alphaville
Markets Data
Capital Markets
Commodities
Currencies
Equities
Fund Management
Trading
Opinion
Show more Opinion links
Columnists
FT View
The Big Read
Instant Insight
Lex
Alphaville
Blogs
Obituaries
Letters
Work & Careers
Show more Work & Careers links
Business School Rankings
Business Education
Entrepreneurship
Recruitment
Business Books
Life & Arts
Show more Life & Arts links
Arts
Books
Food & Drink
FT Magazine
House & Home
Style
Travel
Personal Finance
Show more Personal Finance links
Property & Mortgages
Investments
Pensions
Tax
Banking & Savings
Special Reports
Science & Environment
FT recommends
Lex
Alphaville
EM Squared
Lunch with the FT
Video
Podcasts
Blogs
News feed
Newsletters
myFT
Portfolio
ePaper
Crossword
Help Centre
Subscribe
Sign In
Return to the old FT.com
Open in app
Open in app
window.nextFeatureFlags = [{"name":"articleRelatedContent","state":true},{"name":"ads","state":true},{"name":"clientAjaxErrorReporting","state":true},{"name":"clientErrorReporting","state":true},{"name":"clientDetailedErrorReporting","state":false},{"name":"follow","state":true},{"name":"saveForLater","state":true},{"name":"search","state":true},{"name":"javascript","state":true},{"name":"polyfills","state":true},{"name":"beacon","state":true},{"name":"oTracking","state":true},{"name":"elasticSearchItemGet","state":true},{"name":"typeahead","state":true},{"name":"optInOut","state":true},{"name":"articleTOC","state":true},{"name":"accessGate","state":false},{"name":"myPageEmailNotifications","state":true},{"name":"welcomePanel","state":true},{"name":"myFTOnboardingOverlay","state":false},{"name":"articleComments","state":true},{"name":"capiV2LinkedDataOrganisationHeader","state":true},{"name":"dummyFlag","state":false},{"name":"barrier","state":true},{"name":"liveStreams","state":true},{"name":"articleScrollDepthTracking","state":true},{"name":"gridTrialBarrier","state":true},{"name":"videoTaggingWorkaround","state":true},{"name":"mockFrontPage","state":false},{"name":"nInstrumentation","state":true},{"name":"b2cMessagePrompt","state":true},{"name":"podcasts","state":true},{"name":"myftProductTourPromo","state":true},{"name":"frontPageHeaderMarketsData","state":true},{"name":"myftLists","state":true},{"name":"krux","state":true},{"name":"aaa","state":false},{"name":"cookieMessage","state":true},{"name":"myFtApi","state":true},{"name":"articleFollowPrimayTag","state":true},{"name":"streamOpenArticleInStream","state":true},{"name":"npsFeedbackForm","state":true},{"name":"brexitStream","state":true},{"name":"aa","state":false},{"name":"articleShareButtons","state":true},{"name":"sendBeacon","state":false},{"name":"articleSuggestedRead","state":true},{"name":"streamFiltersAndFacets","state":true},{"name":"streamHotTopics","state":true},{"name":"searchSuggestions","state":true},{"name":"relatedContentOnStreams","state":true},{"name":"kruxRubiconIntegration","state":true},{"name":"kruxGoogleIntegration","state":true},{"name":"kruxAcxiomIntegration","state":true},{"name":"kruxDataLogixIntegration","state":true},{"name":"kruxIXIIntegration","state":true},{"name":"kruxExelateIntegration","state":true},{"name":"kruxAdAdvisorIntegration","state":true},{"name":"paywall","state":true},{"name":"frontPageFastFTJourney","state":true},{"name":"floodlight","state":true},{"name":"sourcepoint","state":true},{"name":"nextSubscriptionAppWithTestApis","state":false},{"name":"streamStickies","state":true},{"name":"contextualAdTargeting","state":true},{"name":"customStreamFragments","state":true},{"name":"nextSubscriptionAppWithUiTestHelpers","state":false},{"name":"streamBrandsDesign","state":true},{"name":"frontPageLayout","state":false},{"name":"streamFeaturedContent","state":true},{"name":"myFtExploreSearch","state":true},{"name":"giftArticle","state":true},{"name":"concurrencyBarrier","state":true},{"name":"vanityHttpRedirect","state":true},{"name":"frontPageMyFtSection","state":true},{"name":"headerMarketingPromo","state":true},{"name":"multiRegionClassification","state":true},{"name":"myFtApiWrite","state":true},{"name":"streamNewPages","state":true},{"name":"adTargetingUserApi","state":true},{"name":"videoPlayerAdvertising","state":true},{"name":"streamMostRead","state":true},{"name":"meganav","state":true},{"name":"lightSignupInArticle","state":true},{"name":"streamNewList","state":true},{"name":"fancyDrawer","state":true},{"name":"perfAmmitBackendForking","state":true},{"name":"kmtOptMeIn","state":false},{"name":"paypal","state":true},{"name":"signupFormB2B","state":true},{"name":"myFtSurrogateKey","state":false},{"name":"nUiBundleMajorVersion","state":true},{"name":"mouseflowForce","state":false},{"name":"mouseflow","state":true},{"name":"brokenAdReporter","state":false},{"name":"subscriptionAppErrorDebugging","state":false},{"name":"directDebit","state":true},{"name":"myFtNewAlertsPage","state":true},{"name":"nUiBundle","state":true},{"name":"myFtLoadTest","state":false},{"name":"preflightUserStatusTest","state":true},{"name":"streamNewSubheader","state":true},{"name":"nUiBundleUnminified","state":false},{"name":"polyfillsRUM","state":false},{"name":"serviceWorker","state":false},{"name":"chartbeat","state":true},{"name":"streamLifeAndArts","state":true},{"name":"encryptionApiErrorDebugging","state":false},{"name":"ukInternationalNews","state":false},{"name":"chartbeatHud","state":false},{"name":"swCommentsAssets","state":true},{"name":"swMyftCaching","state":true},{"name":"swAdsCaching","state":false},{"name":"swSessionCaching","state":true},{"name":"nextSubscriptionAppTrafficFunnel","state":true},{"name":"nextSubscriptionApp","state":true},{"name":"openGraph","state":true},{"name":"googleConsumerSurvey","state":true},{"name":"premiumContentIndicator","state":true},{"name":"signupApiErrorDebugging","state":false},{"name":"firstFtEmailSignup","state":false},{"name":"paypalThrowErrorOnExpressCheckout","state":false},{"name":"paypalThrowErrorOnExpressCheckoutReturn","state":false},{"name":"nativeAds","state":true},{"name":"newBarrierApi","state":true},{"name":"myFTInstantAlertsButtons","state":true},{"name":"swCriticalCss","state":false},{"name":"myFTCollections","state":true},{"name":"polyfillQA","state":false},{"name":"myFtSponsorship","state":true},{"name":"speedcurveLUX","state":true},{"name":"streamJobsBox","state":"true"},{"name":"preflightCookieTracking","state":false},{"name":"registerPageInlineLoginForm","state":false},{"name":"stickyHeaderAd","state":true},{"name":"nextFtTour","state":true},{"name":"lsuSectionPages","state":true},{"name":"nativeAdsArticle","state":true},{"name":"myFtDigestPromo","state":true},{"name":"streamSpecialReportsTopStories","state":true},{"name":"newVideoElement","state":true},{"name":"regionalNews","state":true},{"name":"threeAdProposition","state":true},{"name":"frontPagePremiumSection","state":false},{"name":"healthCheckFailureSimulation","state":false},{"name":"tearsheetHovers","state":false},{"name":"frontPagePremiumUpsell","state":false},{"name":"nextFtTourTipFrontPage","state":false},{"name":"myFtTopAdvert","state":true},{"name":"nextFtTourTipStreamPage","state":true},{"name":"nextFTOptOutFooter","state":true},{"name":"NextWelcomeHelp","state":true},{"name":"nextWelcomeCloses","state":true},{"name":"streamSpecialReportsExplainer","state":true},{"name":"reallyFalcon","state":true},{"name":"streamSpecialReportsMostRead","state":true},{"name":"nextSubscriptionAppUpgrades","state":true},{"name":"nextFtTourTipDismissers","state":true},{"name":"OrigamiImageServiceV2","state":false},{"name":"myftHint","state":false},{"name":"nTeaserStreamPage","state":true},{"name":"nextSubscriptionAppWithBetaSignupApi","state":true},{"name":"ftlabsSpokenLayer","state":false},{"name":"horizontalFastFT","state":true},{"name":"corporateSignup","state":false},{"name":"myFtDigestStoriesAb2","state":false},{"name":"corporateProminenceABV1","state":false},{"name":"myFtPageNextApi","state":false},{"name":"articleCopyLegalNotice","state":true},{"name":"nTeaserTopStoriesMidSlice","state":false},{"name":"frontPageTrumpMidriffUK","state":false},{"name":"frontPageTrumpMidriffIntl","state":false},{"name":"recommendOntotext","state":false},{"name":"offlineLandingTestPage","state":false},{"name":"aiCuratePage","state":false},{"name":"discountOn","state":false},{"name":"myFtRssNextApi","state":false},{"name":"homepageMarketsDataAccelerated","state":false},{"name":"nUiRaiseCtmBar","state":true},{"name":"compactView","state":false},{"name":"searchMultiTypeahead","state":false},{"name":"newSchema","state":true},{"name":"searchUsesElasticsearch","state":false},{"name":"searchUsesGoogle","state":false},{"name":"nextSubscriptionAppDiscardTestEvents","state":false},{"name":"offlineArticleShowRelated","state":false},{"name":"searchFilterResults","state":false},{"name":"streamPageStorylines","state":false},{"name":"videoPageHero","state":false},{"name":"voltDbRoutingTest","state":false},{"name":"affinityMvt","state":false},{"name":"streamUseNextAPI","state":false},{"name":"appcache","state":false},{"name":"offlineToastMessage","state":false},{"name":"teaserUsePromotionalTitle","state":false},{"name":"premiumPriceIncrease","state":false},{"name":"membership-api-test","state":false},{"name":"syndication","state":false}];
window.nextIsAnonymous = true;
window.ftNextLoadScript = function (src) {
var d = document, o = d.createElement('script');
o.async = o.defer = true;
o.src = src;
var s = d.getElementsByTagName('script')[0];
s.parentNode.insertBefore(o, s.nextSibling);
return o;
};
// See src/css-loader.js
!function(){function e(e,t){function n(){!i&&t&&(i=!0,t.call(e))}var i;e.addEventListener&&e.addEventListener("load",n),e.attachEvent&&e.attachEvent("onload",n),"isApplicationInstalled"in navigator&&"onloadcssdefined"in e&&e.onloadcssdefined(n)}var t=window,n=document,i=function(){try{return n.createElement("link").relList.supports("preload")}catch(e){return!1}}();t.loadCSS=function(e,t,i){function a(e){return n.body?e():void setTimeout(function(){a(e)})}function o(){d.addEventListener&&d.removeEventListener("load",o),d.media=i||"all"}var r,d=n.createElement("link");if(t)r=t;else{var s=(n.body||n.getElementsByTagName("head")[0]).childNodes;r=s[s.length-1]}var l=n.styleSheets;d.rel="stylesheet",d.href=e,d.media="only x",a(function(){r.parentNode.insertBefore(d,t?r:r.nextSibling)});var f=function(e){for(var t=d.href,n=l.length;n--;)if(l[n].href===t)return e();setTimeout(function(){f(e)})};return d.addEventListener&&d.addEventListener("load",o),d.onloadcssdefined=f,f(o),d};for(var a,o,r=n.getElementsByTagName("link"),d=0;d<r.length;d++)a=r[d],"preload"===a.rel&&"style"===a.getAttribute("as")&&(i?e(a,function(){this.rel="stylesheet",/\/.*\/main[-a-z]*\.css/.test(this.href)&&t.ftNextFireCondition("MainCssLoaded")}):(o=t.loadCSS(a.href,a),a.rel=null,e(o,function(){/\/main[-a-z]*\.css/.test(this.href)&&t.ftNextFireCondition("MainCssLoaded")})))}();
window.ftNextPolyfillServiceCallback = function () {
window.ftNextFireCondition('PolyfillLoaded');
};
(function () {
if (cutsTheMustard) {
ftNextLoadScript('//www.ft.com/__assets/n-ui/cached/v2/es5.min.js');
ftNextLoadScript('//www.ft.com/__assets/hashed/article/cd2a1880/main-without-n-ui.js');
ftNextLoadScript('//next-geebee.ft.com/polyfill/v2/polyfill.min.js?features=default,requestAnimationFrame,Promise,matchMedia,HTMLPictureElement,fetch,Array.prototype.find,Array.prototype.findIndex,Array.prototype.includes|always|gated,IntersectionObserver,Map,Array.from&flags=gated&unknown=polyfill&callback=ftNextPolyfillServiceCallback&next-variant=enhanced');
} else {
ftNextLoadScript('//next-geebee.ft.com/polyfill/v2/polyfill.min.js?features=HTMLPictureElement|always|gated&unknown=polyfill&next-variant=core');
}
})();
LUX=(function(){var a=("undefined"!==typeof(LUX)&&"undefined"!==typeof(LUX.gaMarks)?LUX.gaMarks:[]);var d=("undefined"!==typeof(LUX)&&"undefined"!==typeof(LUX.gaMeasures)?LUX.gaMeasures:[]);var h="LUX_start";var j=window.performance;var k=("undefined"!==typeof(LUX)&&LUX.ns?LUX.ns:(Date.now?Date.now():+(new Date())));if(j&&j.timing&&j.timing.navigationStart){k=j.timing.navigationStart}function e(){if(j){if(j.now){return j.now()}else{if(j.webkitNow){return j.now()}else{if(j.msNow){return j.now()}else{if(j.mozNow){return j.now()}}}}}var m=Date.now?Date.now():+(new Date());return m-k}function b(m){if(j){if(j.mark){return j.mark(m)}else{if(j.webkitMark){return j.webkitMark(m)}}}a.push({name:m,entryType:"mark",startTime:e(),duration:0});return}function l(o,s,m){if("undefined"===typeof(s)&&g(h)){s=h}if(j){if(j.measure){if(s){if(m){return j.measure(o,s,m)}else{return j.measure(o,s)}}else{return j.measure(o)}}else{if(j.webkitMeasure){return j.webkitMeasure(o,s,m)}}}var q=0,n=e();if(s){var r=g(s);if(r){q=r.startTime}else{if(j&&j.timing&&j.timing[s]){q=j.timing[s]-j.timing.navigationStart}else{return}}}if(m){var p=g(m);if(p){n=p.startTime}else{if(j&&j.timing&&j.timing[m]){n=j.timing[m]-j.timing.navigationStart}else{return}}}d.push({name:o,entryType:"measure",startTime:q,duration:(n-q)});return}function g(m){return c(m,f())}function c(p,o){for(i=o.length-1;i>=0;i--){var n=o[i];if(p===n.name){return n}}return undefined}function f(){if(j){if(j.getEntriesByType){return j.getEntriesByType("mark")}else{if(j.webkitGetEntriesByType){return j.webkitGetEntriesByType("mark")}}}return a}return{mark:b,measure:l,gaMarks:a,gaMeasures:d}})();LUX.ns=(Date.now?Date.now():+(new Date()));LUX.ac=[];LUX.cmd=function(a){LUX.ac.push(a)};
ftNextLoadScript('https://cdn.speedcurve.com/js/lux.js?id=13391102');
(function () {
if (!cutsTheMustard) {
var img = new Image();
img.src = 'https://spoor-api.ft.com/px.gif?data=%7b%22category%22%3a%22page%22%2c%22action%22%3a%22view%22%2c%22system%22%3a%7b%22source%22%3a%22non-ctm%22%7d%2c%22user%22%3a%7b%7d%2c%22context%22%3a%7b%22product%22%3a%22next%22%7d%7d';
}
})();
<img src="https://spoor-api.ft.com/px.gif?data=%7b%22category%22%3a%22page%22%2c%22action%22%3a%22view%22%2c%22system%22%3a%7b%22source%22%3a%22non-ctm%22%7d%2c%22user%22%3a%7b%7d%2c%22context%22%3a%7b%22product%22%3a%22next%22%7d%7d"/>
(function(){
var kuid = Krux('get', 'user');
if (kuid) {
var liveramp_url = 'https://idsync.rlcdn.com/379708.gif?partner_uid=' + kuid;
var i = new Image();
i.src = liveramp_url;
}
})();
None
(function(){
var kpdata = window.kruxProgrammeData;
if(kpdata){
var kpdata_length = kpdata.length;
var scrape_obj = {};
if(kpdata_length > 0){
var time, temptime, hour, min;
//joining values
for(var i=0; i<kpdata_length; i++){
for(var attribute in kpdata[i]){
if(attribute != 'startTime'){
scrape_obj['page_attr_' + attribute.toLowerCase()] += '|' + kpdata[i][attribute];
}
//rounding up time to the nearest hour
else{
temptime = kpdata[i][attribute].match(/([\d]{2}):(\d{2})/);
min = Math.round(temptime[2]/60);
if(temptime[1] != 23){
hour = min == 1 ? (parseInt(temptime[1])+1) : parseInt(temptime[1]);
}
else{
hour = min == 1 ? '0' : parseInt(temptime[1]);
}
time = hour + ':00';
scrape_obj['page_attr_starttime'] += '|' + time;
}
}
}
//formatting
for(var key in scrape_obj){
scrape_obj[key] = scrape_obj[key].replace('undefined|', '');
}
Krux('set', scrape_obj);
}
}
})();
![https://spoor-api.ft.com/px.gif?data=%7b%22category%22%3a%22page%22%2c%22action%22%3a%22view%22%2c%22system%22%3a%7b%22source%22%3a%22non-ctm%22%7d%2c%22user%22%3a%7b%7d%2c%22context%22%3a%7b%22product%22%3a%22next%22%7d%7d"/](https://spoor-api.ft.com/px.gif?data=%7b%22category%22%3a%22page%22%2c%22action%22%3a%22view%22%2c%22system%22%3a%7b%22source%22%3a%22non-ctm%22%7d%2c%22user%22%3a%7b%7d%2c%22context%22%3a%7b%22product%22%3a%22next%22%7d%7d"/){kind=link}
Comments
Post a Comment