CBDC Govcoins – Has The Economist unveiled the endogenous engine of capitalism?

Not quite. More like 101=404. Classical effort = Error not found. Missing as ever : The Money. “Economic action cannot, at least in capitalist society, be explained without taking account of money, and practically all economic propositions are relative to the modus operandi of a given monetary system,” Joseph Schumpeter 1939 The Economist special report 2021 The … Continue reading CBDC Govcoins – Has The Economist unveiled the endogenous engine of capitalism?

Banking on Values

"A fool is someone who knows the price of everything and the value of nothing". Central banker Mark Carney has diagnosed a crisis in value(s). He doesn't just mean prices being misaligned with values as in frothy asset overvaluations. That's just a symptom of a deeper malaise. The central idea of his book, says the … Continue reading Banking on Values

Inflation? Inflation!

"A spectre is haunting the globe – the spectre of inflation. The powers that be have entered into an unholy alliance to ignore this natural expectation. But inflation will not be ignored. Daily some party is being decried as inflationist only to hurl back the branding reproach of incontinence. Two things result from this fact:  … Continue reading Inflation? Inflation!

Individualism bankrupt. Greed dead. Say Collier and Kay.

1999 guide designed to get America's youth interested in investing John Kay's "The Truth about Markets" and "Other Peoples' Money"  I read as entertaining eye openers about real business, finance and government. His realist observations made for a wittily scathing critique of many of the ills now bundled into neoliberalism. Colliers and Kay's bete noir … Continue reading Individualism bankrupt. Greed dead. Say Collier and Kay.

GameStop doesn’t stop the game

Collective insanity, insurgent revolt or just  playing games? Who cares if we can all have a laugh at Mr Moneybags drop his shorts  and reveal the entitled shrivel underneath. As Kenan Malik  writes in The Guardian  "Having been outgamed by a bunch of nerds, the titans of Wall Street did what all entitled people do. They … Continue reading GameStop doesn’t stop the game

Stiglitz wants GDP retired

"It's time to retire metrics like GDP." writes Joseph Stiglitz in The Guardian. "The way we assess economic performance and social progress is fundamentally wrong, and the climate crisis has brought these concerns to the fore." Indeed. Always nice to hear the reforming voices. Apparently another revised book of alternative measurements has just been published. … Continue reading Stiglitz wants GDP retired