The International Monetary Fund has released a paper entitled Inequality, Leverage and Crisis making the case that inequality was an ‘underlying cause of the Great Recession of 2008-2009′, The Telegraph reports: “Global unemployment remains at record highs, with widening income inequality adding to social strains,” he [IMF chief Dominique Strauss-Kahn] said, citing turmoil in North Africa as [...]
Alan Johnson announced he’s resigning as Shadow Chancellor for family reasons. Reading between the lines, could it be because he knows nothing about economics, frequently clashes with Ed Miliband and is just a little bit shit? Let’s hope Ed picks someone a bit more suited to the role next time, who’ll really go for the [...]
In a recent email to the rest of this blog’s editors, Jacob requested, in his usual forthright fashion, that we refrain from writing ‘pseudo-insightful piece[s] based around new years’ resolutions’, so I’m not going to do that. However, because it’s Boxing Day (at the time of writing), because I’m full of too much wine and [...]
The world may be getting warmer, but, for one day at least, it looks as if hell is getting colder. What’s that? A piece of good news from Copenhagen? No, my friend, not one piece, but two! Not only is Europe pledging €2.4bn a year to help developing nations cope with the cost of climate [...]
Guest post by Carl Packman In my opinion, that famous neo-Hegelian thinker Francis Fukuyama – the man responsible for the predication in the late eighties/early nineties that at the fall of the Berlin Wall, the end-of-history had loomed upon us, and it had shown free-market capitalism to be the victor over socialism – has gone [...]
The recession seems to have become a pantomime this week. At every opportunity the Chancellor tells us: “it’s behind you”, then the Office of National Statistics (ONS) yell: “Oh no it isn’t!” So are we in recession or aren’t we? There’s an easy answer to this – some of us are and some of us [...]
In capitalism’s early life Marx compared capital to a vampire, that ‘only lives by sucking living labour, and lives the more, the more labour it sucks’. Chris Harman thinks a different horror staple is appropriate for the system’s later years. Far from being the sophisticated, sentient vampire count, it is better compared to the mindless, [...]
“…to ‘send back’ every one of ‘these people’ would cost a total £6,250,000,000. That’s a ridiculous amount of money! We could have another war somewhere out of that!”
