Politics and finance: an incestuous relationship
May 27, 2021There was once a time when what was good for General Motors was as a matter of course good for the USA. Nowadays, what’s good for Wall Street is good for the USA, a country that now lives under the influence of a financial oligarchy. The powerful myth of the US as a “nation…
Bitcoin and the conspiracy theorists
March 17, 2021Those frothing at the mouth over this “monetary revolution” take refuge in mistrusting their government, or in lacking confidence in their currency that they think won’t be worth much the next day due to the actions of the central banks. Or it’s for both reasons, that alas have got a bit confounded in the…
You are all Charles Ponzi!
October 27, 2020“Give Ponzi a million”, the Wall Street Journal declared in an article on 2nd August 1920, “and in a twelve month he will expand it for you to some $25,000,000; in two years to $657,000,000; in three years to $16,885,000,000. Surely the Allies could spare him a million, and within three years clean up…
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…
We, the barbarians
March 2, 2020Economic science is up for the chop, and the profession has been put on the defensive. Those who imposed austerity during the last great crisis called on what they thought made up the fundamentals of the economy. The rare ones who rejected this stringency pleaded, for their part, for action in this discipline that…
Would the West accept being saved by Islamic finance?
January 19, 2019The Nobel prize winner for economics, Eugene Fama, born in 1939 and one of the fathers of monetarism and the neoliberal ideology, is known for having pre-emptively asserted that “the idea of efficient markets is a simple assertion that states that the prices of securities and assets reflect all the information known”. It is in…