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Archive for 'Economy'

Syriza: more Keynesian than Marxist?

I don’t pretend to understand all the complexities of Greece’s economic crisis, or what the victory of what is routinely described as the “radical leftist” Syriza party portends.
What I do know is that the austerity designed to “rescue” Greece after the 2008 economic collapse was at least partly responsible for starving children and did not [...]

The industrial policy that dare not speak its name

Guest post by Andrew Murphy
Republican governor Rick Perry of Texas is excited about the Texas economic model which has lured Toyota away from the high-tax Democratic-leaning state of California to the free market paradise of Texas. That is Perry’s spin on things, and the way things were played up on Fox News.
However, Toyota is [...]

Thomas Piketty on inequality

Huffington Post reports:
The number-one book on isn’t a guide to green juice or an erotic romance novel. No, the top seller on Amazon right now is a 700-page book, translated from French, about rising inequality and the state of modern capitalism.
In what may be a hint of widespread anxiety about the foundations of the [...]

Manufacturing still matters

In 1988 Stephen Cohen and John Zysman published a book called Manufacturing Matters: The Myth of the Post-Industrial Economy, which warned against sacrificing America’s industrial base and relying on an increasingly service- and finance-based economy.
Well, they tried to warn us anyway.
I never heard of Vaclav Smil before reading this interview, but he’s Bill Gates’s favorite [...]

Boris Johnson on people as cornflakes; Charlotte Hays on “white trash”

The New York Times has picked up on the brouhaha over recent remarks by London Mayor Boris Johnson which had even Deputy Prime Minister Nick Clegg calling him a “careless elitist.”
Mr. Johnson is no scientist, but he has stepped into the kind of debate over the relationship of I.Q. to race and poverty that has [...]

Shadowy Turkish group ‘Mentora Academies Trust’ to receive millions of pounds to run UK schools!

This is a guest post by Ismet Inonu

A Turkish group called ‘Mentora Academies Trust’ which has no website and whose Chairman speaks no English, has declared it will receive £6-7 million pounds from the British government to run three schools in Oxfordshire on 500 acres of land. Enver Yucel, Chairman of the Turkey-based group, has [...]

Republicans: Default would be a disaster, we don’t care

As the US moves to the brink of another debt ceiling and default crisis– this time over Republican efforts to defund Obamacare– The Washington Post’s Greg Sargent observes:

The new Washington Post/ABC News poll on the debt ceiling tells us something remarkable: Among Republicans who believe that not raising the debt ceiling would cause serious harm [...]

Fire Sale

(Good pub quiz question: Postman Pat’s surname is Clifton.)
As a sign of my gradual shift towards curmudgeon when it comes to generous pay packets for public sector chiefs, my first thought on hearing that the Government is to sell at least a majority stake in the Royal Mail was how much the chief executive is [...]

The hollowing out

Some things worth reading about the ongoing hollowing-out of the economic middle in the United States.
• Speaking (appropriately enough) at the Rock and Roll Hall of Fame and Museum in Cleveland, economist Alan Krueger, then chairman of the White House Council of Economic Advisers, discussed what he has called Rockonomics:
The music industry is a microcosm [...]

The politics of upper-body strength

Have you ever wondered about the correlation between men’s upper-body strength and their attitudes toward economic redistribution?
So have I. Fortunately a study published in the journal Psychological Science provides some interesting answers.
The study found that among rich men, those with the most upper-body strength had the most negative attitudes toward redistribution. Somewhat more surprising (at [...]