Category: capitalism

The testament of a disillusioned economist

March 17, 2020 0

  This is my testament. My economic testimony. It’s been 12 years now that I’ve been analysing the crisis. All in all, I’ve been writing about the economy and finance for thirty years. However, it’s from 2007 that I’ve been trying tirelessly, through my books and my articles, to denounce what has come to be…

By Michel Santi

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

Has capitalism become obscene ?

September 20, 2018 0

Wealth and income distribution have become grotesque in our Western nations. Collusion between political and economic powers has now become obvious, and it is of public notoriety that employment is nothing more than an adjustable variable in today’s capitalism. The tacit and consensual agreement on which our prosperity has been built thus far is crumbling…

By Michel Santi

Gresham’s law

October 28, 2017 0

In economics, the bad always drives out the good. This is the main point of the law derived by Gresham, a financial advisor to Elizabeth I during the 16th century. At the time, in England and elsewhere, silver coins were in circulation but were not of equal purity. Consumers and retailers would greedily keep hold…

By Michel Santi

Life beyond capitalism

August 12, 2017 0

The economy is no longer a job supplier. This paradigm has now come to pass because, in the era of globalisation and the financialisation of our economies, growth no longer goes hand in hand with honourable and fairly paid work but for a minority. The subprime crisis came about fundamentally due to huge loans given…

By Michel Santi

Capitalism: soon to be a barbaric relic?

October 6, 2016 0

“The great struggles of the twentieth century between liberty and totalitarianism ended with a decisive victory for the forces of freedom—and a single sustainable model for national success: freedom, democracy, and free enterprise. In the twenty-first century, only nations that share a commitment to protecting basic human rights and guaranteeing political and economic freedom will…

By Michel Santi

Capitalism: soon to be a barbaric relic?

June 6, 2016 0

“The great struggles of the twentieth century between liberty and totalitarianism ended with a decisive victory for the forces of freedom—and a single sustainable model for national success: freedom, democracy, and free enterprise. In the twenty-first century, only nations that share a commitment to protecting basic human rights and guaranteeing political and economic freedom will…

By Michel Santi

Something’s got to give

April 21, 2016 0

The secular stagnation that is infecting our economies brings with it the germs of instability and financial torment. Since interest rates and monetary creation are the only weapons still at the disposal of the only public institutions that still wield some sort of power in our modern world, their initiation with a view to relaunching…

By Michel Santi

Life beyond capitalism

March 21, 2016 0

The economy is no longer a job supplier. This paradigm has now come to pass because, in the era of globalisation and the financialisation of our economies, growth no longer goes hand in hand with honourable and fairly paid work but for a minority. The subprime crisis came about fundamentally due to huge loans given…

By Michel Santi

Apple, or capitalism with bite

November 10, 2015 0

Apple makes money – a lot of money! In fact, Apple makes more money than any company has ever made and now finds itself, logically, with mountains of cash. As high as some 200 billion dollars, and more than the US Treasury. Of course, it’s the shareholders who are the ultimate owners of these monumental…

By Michel Santi

China will have to go bankrupt to survive!

September 6, 2015 0

The severe damage that China is currently suffering is not necessarily what it may appear to be. It’s actually these “zombie” companies that are degrading the economic fabric of the nation; they are the failing businesses that the Chinese government is nevertheless keeping alive on artificial respirators. The easy money and low prices which have…

By Michel Santi

To save the rich, relieve the poor!

April 29, 2015 0

A debate rages on, mostly in the United States, regarding the secular stagnation of our economies. This secular stagnation is due, in my opinion, to the extraordinary productivity of capitalism. The very low, zero-boundary or even negative interest rates are simply the consequence of capital’s very efficient productivity. As for unemployment, it is itself a…

By Michel Santi