Neoclassical free market orthodoxy, by which the world is still ruled, makes no distinction between real and speculative markets. Both are granted maximum freedom to grow. Speculative markets started as a strand within the financial sector which itself was brought into existence to support investment in the first industrialisation. But while the size of [...]
Archive for the ‘Financial Sector’ Category
Despite their much vaunted economic expertise, the leading national and global institutions failed to prevent the financial and economic crisis theyâ€™re now arguing over how to clear up. The IMFâ€™s Independent Evaluation Office (IEO) reported last month on why the IMF, as one such institution, failed to identify the risks and give clear warnings. [...]
Empathise with the banker, trader or fund manager looking after other peopleâ€™s money, whose performance on their behalf is continually assessed and reported as the basis for a position on a league table. Two options are on offer.
1. Invest in a start-up widget manufacturer creating new employment but only offering a return of 10-15% pa and [...]
In a recent article in The New York Review of Books, Michael Tomasky suggested the lack of any alternative big theme gave the free marketeers a head start in shaping and continuing to dominate the United States economy. The free market big theme may have been planted by Adam Smith, but it developed on the [...]
A recent article in The Economist pointed out that Britain, the original industrialiser for long in relative economic decline, owned 45% of the worldâ€™s foreign direct investment in 1914, but now has substantially less than 10%. The United Statesâ€™ foreign direct investment peaked at around 50% in 1967 and is now less than half that. [...]