Adam Smith wrote the seminal work about capitalism - The Wealth of Nations. Growth was then based on nations competing in the most extreme act of international piracy in history, colonialism. These days we talk of "bubbles" as though these modern gold rushes were a certain financial rhythm. We developed a science to predict and …
Category: economic confidence
Illogical conclusions
The use of austerity has worn thin at least for the probable longevity of George Osborne. In its current form at least. Infrastructure spending by this two faced Government amount to allowing private roads to be built which is certainly going to provide some relief to chronic unemployment and incrementally it may result in economic …
Why Austerity is Failing our children
A generation or two of high unemployment and low wages is considered a price worth paying to bring down the deficit. This makes little sense economically (no jobs means less tax revenue, hence Osborne's frantic borrowing) Guardian article If the Government believes that it is good to take from the majority because they a) either …
Is this not theft?
Top Tory donor George Robinson was a director of Rushmore, a (failed) tax avoidance scheme that Jimmy Carr was also a listed "Director" of - alongside 500 other disappointed capitalists. Does this mean that the Tory Party is partly funded by income made via tax avoidance. Does this not mean that the Tory party is …
Economics and Politics
So many convoluted answers and the likelihood is that those we elect into power will have none of it. The real answer is simple enough. The tax payer bailed out the banks, and now there is not enough cash in the system to stimulate demand. When we have demand we buy the stuff that is …
The Economic Recovery
Signs of an economic recovery are starting to appear. After recapitalising the financial system, President Obama kept the US economy liquid. This is may have averted more depressing news but as the bankers start to return funds they were lent by the tax payer the question arises, where to now for the US economy? read …
Real Progress
All this focus on the economy may mean we take our attention off the real issue. All the focus on sectional interests and pressure groups that drive the climate change agenda, instead of actual planning to change things that must change is distracting humanity from its mission, its meaning and its life.Real progress follows talking …
Faith vs Confidence
...it is not so much an economic crisis but a crisis of confidence in the frightening mathematics. Financial instruments and currency are a form of instant contract - they assume faith - but the gambler, the criminal, the banker - they lose the concept of money as value as they are no longer participating in …