Project Syndicate 18th of September, 2024 “Shortly after taking office, the United Kingdom’s new Labour government announced the discovery of a massive shortfall in public finances. While much of the political debate has centered on the size of this fiscal hole, the real culprit is the set of arbitrary rules that British governments have imposed on themselves … Continue reading Britain’s Illusory Fiscal Black Hole
Debt
At least 39 people have been shot dead in a wave of mass protests in Kenya, forcing the Western-backed government of President William Ruto to scrap its planned Finance Bill 2024.
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Each time money is used, an epistemology, a metaphysics, a politics, an ethics, and even a theology is evoked. Money condenses the spirit of capitalism. Money did not create capitalism—the early factories and mills were rarely funded by bank loans—yet money transmits, propagates, and vivifies it. This thought-provoking quotation (p. 20) is from Theology of […]
I have this friend. A mountain of unexpected medical debt buried his family at the start of last year. At the same time, the closing of his business stuck him with six figures of personal debt. Liquidating a retirement account and maxing out credit cards bought him short-term breathing room. Mostly, though, it added interest […]
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by Brian Czech
If you recognize the damages done by a bloating economy, you’ll be alarmed by the global GDP meter, which hit the existentially menacing threshold of $100 trillion in 2022. If that doesn’t give you a dose of distress, try the global debt clock. Then, for a dizzying dose indeed, check the casino-like combination of debt and GDP maintained by “US Debt Clock.”
Almost all readers,
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“Let’s face it, the universe is messy. It is nonlinear, turbulent, and chaotic. It is dynamic. It spends its time in transient behavior on its way to somewhere else, not …
The post The empire of lies (and its consequences) appeared first on The Gower Initiative for Modern Money Studies.
by Jongchul Kim* In a given era, social scientists often share a common philosophical perspective, whether overtly or implicitly, despite studying different subjects. So what if the prevailing perspective among mainstream economists proves problematic, preventing them from providing a comprehensive understanding of the capitalist financial system?In modern Western philosophy, conventional economics is built upon two […]
“Never forget that the economy is a wholly owned subsidiary of nature”. Global Boiling – Kate Mackenzie and Tim Sahay Many of us have grown up with the story of …
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May Rostom On average, parental contributions help children buy homes four years earlier than those without them. Out of every 100 new homeowners below the age of 30, 16 will have had help from ‘the Bank of Mum and Dad’, or Bomad for short. That rises to one in four new homeowners under the age … Continue reading Bomadland: How the Bank of Mum and Dad helps kids buy homes
By Carlos García Hernández Originally published in Spanish on 1/7/23. Definition of a State: a territory with fixed borders under a central authority with the capacity to …
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