May this crisis be an opportunity!
June 15, 2020For the common good, but also purely and simply for the preservation of capitalism, this crisis must be got to grips with because the cause and effect relationship between the accumulation of debt and inequalities is, for me, at the source of it all. The fact is that the drop in debt for the…
700 years of interest rates to predict the future
June 8, 2020The bankers of Florence – the inventors of modern finance –imposed a two-figure interest rate in return for their loans. The usurer Shylock, in Shakespeare’s The Merchant of Venice, was happy with 8%, whereas this service charge on debt had fallen to around 4% at the start of World War One, and is now at…
Work is a perished good
November 13, 2019Full time work for a fixed salary has only existed for around a hundred years, and still not for everyone, as women were deprived of it for a good while, including during the happy times of full employment in the second half of last century. Today, deregulation, outsourcing and automation are all synonymous with…
The economic deficiencies of our political leaders
September 17, 2019The “Japanisation” of our Western economies that I have been talking about and describing for years has now reached its climax with the world’s two most influential central banks – the ECB and the Fed – getting (back) out the heavy artillery in the hope of putting more pressure on their interest rates. The heated…