The Gospel according to Saint Money

November 30, 2019 0

  It’s a history condemned to repeat itself forever because, since the dawn of time, the enrichment of some has basically always been to the detriment of others. Inequality has often been described by the upper class as an inevitable side effect, systemic almost, of the prosperity and innovation that is however meant to benefit…

By Michel Santi

Lebanon: a new race of leaders

November 20, 2019 0

    To understand the events in Lebanon that have taken place over the last month, it is vital to have an idea of the country’s debt structure. In other words: the analysis of Lebanon’s public and private debt allows us to better understand this socioeconomic crisis. In fact, Lebanon is renowned for distinguishing itself…

By Michel Santi

Negative rates: an economic curse?

November 6, 2019 0

  Companies that don’t pay interests on their debt are a like these students who never sit an exam: they somehow scrape by without any notable successes or accomplishments. The current level of rates should be encouraging investment because companies’ margins are much higher than the cost of capital, that is itself negligible. Even the…

By Michel Santi

Economists: can we trust them?

October 28, 2019 0

Chile is the only Latin American country that is a member of the OECD, and not long ago it was still being cited as an example to follow because of its success and economic recovery. It is, however, just the latest victim to date of a neoliberalism whose ravages have now become universal. Chile’s fall…

By Michel Santi

Inflation of prices, deflation of policies

October 10, 2019 0

So you think you understand inflation? Allow me to correct you because it is in no way the result of an unreasonable expansion of the money supply that translates into a rise in prices. This clichéd term of “inflation”, used unscrupulously by the detractors of central banks, by the prophets of misfortune whose commercial stock…

By Michel Santi

The People against the Economists

September 9, 2019 0

  In his time, Franklin Delano Roosevelt dismissed John Maynard Keynes, one of the most influential and brilliant economists of the 20th century, who was labelled an “unorthodox mathematician” by this president. In his farewell address, Eisenhower had warned his citizens against the technocrats in power, the same who were recently described by Emmanuel Macron…

By Michel Santi