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Business Daily: The new Middle Ages

04/04/2011

The new Middle Ages

BBC World Service - Business Daily, The new Middle Ages

What happens to business deals when regimes fall and are we entering the new Middle Ages?

What happens to business contracts when regimes fall and are we entering the new Middle Ages?  That's all in Business Daily.

Today we'll asking whether we are entering the new middle ages. The world seems beset by uniquely modern issues: the global financial crisis, the rise of great new world powers, the collapse of nation states, the spread of Islamic fundamentalism, and environmental disasters. But is this really anything new? 

According to one author, the 21st Century resembles nothing more than the 12th Century. Justin Rowlatt interviews Parag Khanna who believes we are entering what he calls a "neo-medieval world". 

In his book How to Run the World: Charting a Course to the Next Renaissance, he argues that the parallels between the world now and a thousand years ago can give us important insights into modern problems.

But our lead story today looks at what happens to business when regimes change or governments fall.

We are only in April but this has already been a tumultuous year. Regimes in Tunisia and Egypt have fallen, fighting continues in Libya and in the Ivory Coast but what happens to contracts that have been struck with the former government? 

For example, if the Gaddafi regime falls, will the new government honour existing oil deals or will they all be up for renegotiation? Shai Wade is a partner in the international law firm Reed Smith. He specialises in international arbitration, with a particular emphasis on large scale complex disputes.

We also ask what makes a good employer? These days it's quite normal for large corporations to offer a range of benefits to attract and keep their staff, from pensions to private health insurance. But some companies go that bit further to stand out from the crowd. How about a bit of cosmetic surgery? Or somewhere you can drop off the dog while you work? 

As our regular commentator Lucy Kellaway discovered, there's a whole host of perks available these days and some are more desirable than others.

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