Economy Food for Thought

The Proximate Cause

This (via Reuters): Twitter has $13 billion in debt after the deal and faces interest payments totaling close to $1.2 billion in the next 12 months. The payments exceed Twitter’s most recently disclosed cash flow, which amounted to $1.1 billion as of the end of June. The real question is why load it up with debt […]


Time for a radical solution?

If, after four years of printing money, the system isn’t working, what next? This is where another two Kilkenomics guests, Richard Murphy (adviser to Jeremy Corbyn) and Stephanie Kelton (American economic guru for democratic candidate Bernie Sanders), offered some new insights. They both thought that it was only a matter of time before central banks, […]

Economy Europe UK

Sterling Drop

And shortly after Theresa May sets a deadline for article 50, sterling continues it’s decline. It’s been lower before of course, but that was the time the world economy nearly burned to the ground. In related news, I’m holding off on any purchases to let them get cheaper.

Big Business Economy

The Neoliberal Problem

Financialisation, as Andrew Sayer notes in Why We Can’t Afford the Rich, has had a similar impact. “Like rent,” he argues, “interest is … unearned income that accrues without any effort”. As the poor become poorer and the rich become richer, the rich acquire increasing control over another crucial asset: money. Interest payments, overwhelmingly, are […]

Big Business Economy

Capitalism vs Markets

They are, in fact, two different things: capitalism is a system of ownership; markets a method of exchange. Although the two have sometimes gone together, this need not be so. Crony capitalism in which a few monopolies or cartels run much of the economy gives us capitalism without markets. And market socialism would give us […]

Big Business Economy

The Exploitation Economy

Which is exactly what it’s not called, because that’d be far too honest. Instead, it’s proclaimed as the new ‘sharing economy’, where everyone can work as much as they need, hours are casual to suit you, you’re a ‘partner’ not an employee! Pure bull. It’s yet another way that capital accumulates capital, and exploits whomever […]