Selling by the left

I confess I am not usually a fan of Jacobin, which often seems to me, to overstate its case. However there is an interesting article here where I have some considerable sympathy. The article points out the initial joy of the Barrack Obama election success. The author starts: I came to my politics the way most… Read more

The rise of economics as a method of control

This from the Economist of 29 August reviewing an American book, “The Economists’ Hour”, by Binyamin Appelbaum, which I thought historically instructive:. Few economists worked at the Federal Reserve in the early 1950s. Those who were on the staff of America’s central bank were relegated to the basement, at a safe remove from the corridors… Read more

Market based capitalism can’t compete with state sponsored capitalism

There is an interesting article here on how Trump is effectively bound to be outsmarted in his trade war with China. America suffers from the same problem as Britain – it doesn’t make much anymore. So if the currency reduces in value there is no opportunity to increase exports because it there is nothing much… Read more

Post Brexit possibilty?

For people like the Labour supporting businessman John Mills, Brexit was mostly about getting the value of the pound down in order to increase exports. ‘This is Money’ reports that His Brexit beliefs stem from his economic outlook. For Mills, Britain has thrown away its industrial manufacturing past and needs to rebuild its status as… Read more

The dilemma of neoliberal capitalism: whose efficiency and whose resilience?

National Grid claimed, after the recent power cut  that they had been efficiently supplying electricity without fault since the last time the same thing happened eleven years ago in 2008. Now, I’m paraphrasing slightly and the chap was rather less smug than this suggests but it still poses the question: whose efficiency and what about… Read more