Posted on July 26, 2010 by Sabine Kurjo McNeill
This is a seven-minute video by economics professor emeritus R.D.Wolff on the root causes of the current “crisis”.
He is the author of Capitalism hits the Fan and finds long term reasons for the crisis, without hitting the nail of “money from thin air“.
Filed under: Economics | Tagged: capitalism | Leave a Comment »
Posted on February 27, 2010 by Sabine Kurjo McNeill
I’m keen to promote the thinking behind The Global Financial Crisis. Fortunately, I’m not alone: Debunking Economics or How Economists went Astray are two examples. And one of the best resources on the web questioning the crisis is CrisisMaven’s Blog.
Filed under: Banks, Central Banks, Challenging the Recession, Economics, Financial Fairness | Tagged: Economics | 1 Comment »
Posted on January 29, 2010 by Sabine Kurjo McNeill
There is an interesting article by two economics professors from Boston University which sets out A Banking System we Can Trust.
The Times published a story about one of these professors who has supposedly become a guru for Mervyn King. That’s where I’d like to know whether they also talk about “credit money” in general and quantitative easing as the way of central banks supplying banks with credit money.
For that’s what a guru would propose. Because a guru has spiritual wisdom to offer that is inherently of benefit to mankind.
Filed under: Bank of England, Banks, Central Banks, Economics | Tagged: Banks, limited purpose banks | Leave a Comment »
Posted on January 22, 2010 by Sabine Kurjo McNeill
Today I got the news about the excellent campaign MoveYourMoney and I hope that it will soon find its equivalence in European and other countries!
Meanwhile I was thinking what could be done “at the top” while we, the people, move our money, and I came up with this:
In addition to GDP, inflation and public debt as a percentage of GDP, there are three more fundamental measures that public statisticians should be interested in.
However, this presupposes that there was a move to more transparency and deeper understanding of what’s going on in the financial economy. It also presupposes that politics and the financial economy are there to serve the real economy.
If that was so, the development and publication of the following figures would help future generations:
• Re a government’s budget:
– the need to raise taxes vs the need for borrowing, i.e. the consideration to increase ‘narrow money’ as we have suggested in our submission to the Treasury Select Committee’s inquiry into the Stern review: Green Credit for Green Purposes
• Re a nation’s money supply:
– the ratio between ‘narrow’ and ‘broad’ money, i.e. the proportion of Cash (issued free of interest by the State) to Credit (issued at interest by banks and central banks)
• Re potential state bankruptcies in international contexts:
– the ratio between internal and external indebtedness, i.e. obligations in local and foreign currencies.
Maybe we could complement MoveYourMoney with MeasureOurMoney?
Filed under: Challenging the Recession, Indicators, Indices, Measures | Tagged: economic measures, monetary measures | Leave a Comment »
Posted on October 31, 2009 by Sabine Kurjo McNeill
Here is another “whistleblower” from the camp of economists. As a mathematician I have long been appalled how economists parading as pseudo-scientists, abusing maths for their purposes, only to protect bad banking and accountancy practices.
From Professor Geoffrey M. Hodgson
The Business School, University of Hertfordshire, Hatfield, Hertfordshire AL10 9AB, UK
FOR IMMEDIATE RELEASE
The Financial Crisis: How Economists Went Astray
Filed under: Economics | Tagged: economists | Leave a Comment »