background preloader

Economics

Facebook Twitter

Letter from Ha-Joon Chang, Thomas Piketty, David Blanchflower and others. The Financial System Is a Larger Threat than Terrorism. Official Site - the UK's number one best-selling news and current affairs magazine, edited by Ian Hislop. Selling England (and Wales) by the pound IN September 2015 Private Eye created an easily searchable online map (see below) of properties in England and Wales owned by offshore companies.

Official Site - the UK's number one best-selling news and current affairs magazine, edited by Ian Hislop

It reveals for the first time the extent of the British property interests of companies based in tax havens from Panama to Luxembourg, and from Liechtenstein to the South Pacific island of Niue. Most are held in this way for tax avoidance and often to conceal dubious wealth. Using Land Registry data released under Freedom of Information laws, and then linking around 100,000 land title register entries to specific addresses, the Eye has mapped all leasehold and freehold interests acquired by offshore companies between 2005 and 2014. Using this data the Eye published a series of exposés of the companies, arms dealers, oligarchs, money launderers and others who use offshore companies.

The man behind Corbynomics: an accountant from leafy Norfolk. Richard Murphy is a chartered accountant and tax expert from a rural market town in Norfolk.

The man behind Corbynomics: an accountant from leafy Norfolk

The Evidence Keeps Pouring In: Capitalism Just Isn't Working. (Photo: Daniel Lobo) To followers of Ayn Rand and Ronald Reagan, and to all the business people who despise government, 'community' is a form of 'communism.' Even taking the trainis too communal for them.

The Evidence Keeps Pouring In: Capitalism Just Isn't Working

Americans have been led to believe that only individuals matter, that every person should fend for him/herself, that "winner-take-all" is the ultimate goal, and that the winners have no responsibility to others. To the capitalist, everything is a potential market: education, health care, even the right to water. But with every market failure, it becomes clearer that basic human rights can't be bought and sold like cars and cell phones.

BuzzFlash isn’t funded by corporate advertising, but by readers like you. Global Failures. Austerity Is 'Complete Horsesh*t': Ivy League Prof Dismantles the Conservative Lie. Photo Credit: Shutterstock.com As devoted readers of Paul Krugman know well, there’s plenty of evidence from the last six years indicating that austerity, the idea that the government can best boost the economy by engaging in significant tax cuts as well as spending cuts, simply doesn’t work — at least not in today’s economic conditions.

Austerity Is 'Complete Horsesh*t': Ivy League Prof Dismantles the Conservative Lie

With the U.S. going through a period of significant GDP growth, a decrease in the unemployment rate and a falling deficit, it’s a lesson that holds less salience today than it did in years past. But in the eurozone economy, the application of “expansionary austerity” has been vigorous — and rather unsuccessful. But with the victory of the anti-austerity party Syriza in Greece’s recent election, the state-of-play in Europe has changed dramatically. And this is why Brown University professor Mark Blyth’s book “Austerity: The History of a Dangerous Idea,” released in paperback last month, remains such necessary reading. Labour not responsible for crash, says former Bank of England governor. The former Bank of England governor Mervyn King has denied that the previous Labour government was responsible for the financial crash, saying there was a shared intellectual responsibility across the political parties and financial institutions for failing to foresee the problems.

Labour not responsible for crash, says former Bank of England governor

Saying his view on the cause of the crisis had evolved, he said he doubted any single one country could have found their way through the crisis. Finally! Exposed! The Deficit Myth! So, David Cameron When Are You Going to Apologise?  Anonymous: Flaw in the monetary system. Defense Contractors Are Making a Killing. Stock prices for Lockheed Martin, General Dynamics, Raytheon and Northrop Grumman set all-time record highs last week as it became increasingly clear that President Obama was committed to a massive, sustained air war in Iraq and Syria.

Defense Contractors Are Making a Killing

It’s nothing short of a windfall for these and other huge defense contractors, who’ve been getting itchy about federal budget pressures that threatened to slow the rate of increase in military spending. Now, with U.S. forces literally blowing through tens of millions of dollars of munitions a day, the industry is not just counting on vast spending to replenish inventory, but hoping for a new era of reliance on supremely expensive military hardware. “To the extent we can shift away from relying on troops and rely more heavily on equipment — that could present an opportunity,” Jack Ablin, chief investment officer at BMO Private Bank, whose $66 billion portfolio includes Northrop Grumman Corp. and Boeing Co. shares, told Bloomberg.

PFI contracts: the full list. Aerial view of the Severn crossing.

PFI contracts: the full list

Photograph: David Goddard/Getty Images £301,343,154,097. That is the total that the UK's public sector will pay in existing Private Finance Initiative repayments. Arundhati Roy: How Corporate Power Converted Wealth Into Philanthropy for Social Control. August 27, 2014 | Like this article?

Arundhati Roy: How Corporate Power Converted Wealth Into Philanthropy for Social Control

Join our email list: Stay up to date with the latest headlines via email. This is no recovery, this is a bubble – and it will burst. According to the stock market, the UK economy is in a boom.

This is no recovery, this is a bubble – and it will burst

We need rent controls to solve London's housing crisis. In an unusual break from the disagreement, dissent and bickering that pervades politics, consensus has broken out amongst policy makers in the capital: London is in the midst of a housing crisis.

We need rent controls to solve London's housing crisis

The facts are stark. Private rents in London have risen nine per cent since December 2011. Property price growth has returned to pre-2008 levels and is on the brink of exceeding it.Higher rents make it difficult to save a deposit, and rapid house price growth pushes the size of that deposit further and further out of reach.

Indeed, those two factors combined mean that the projected average age by which a young person will be able to buy their first home in London is now 52. Austerity and economic illiteracy. Noam Chomsky (2014) "How to Ruin an Economy; Some Simple Ways".