The Zombie Currency and the Fetters of Europe
Hobbes once said that money is the “Sanguification of the Commonwealth” Wherever it circulates, so it brings goods from those who produced them to those who need them, and in...
Using the Device of a Treaty to Control Corporations?
In today's modern democracies, corporations wield significant influence over our lives, as well as over our governments. In the wake of the global financial crisis, it is evident that corporate...
Towards a European Tobin Tax?
Reports in the press this week suggested that German Chancellor, Angela Merkel, had been won over to the idea of introducing a tax on financial transactions at the European level....
Capitalism in Crisis – the Apologia
The Financial Times recently launched a series of articles on “Capitalism in Crisis”. As we enter the fourth year of the global banking collapse and the long depression in real output for...
How Credible are the Credit Rating Agencies?
With the 'big three' in an enormous position of power, it is time to regulate the ratign agencies effectively. PROF. JOHN RYAN | DECEMBER 12, 2012 The reputational crisis of...
Specterless Europe: What is the problem to which Europe seeks a solution?
Written by THE CURRENT MOMENT Saturday, 03 December 2011 15:57 A crisis of confidence says ECB President Mario Draghi, and just about everyone else. Confidence is lacking in the ability...
Democracy versus Debt Sustainability
Written by THE CURRENT MOMENT Debt sustainability has emerged as one of the key issues of the day and one that brings the different poles of the rich world together:...
Debt and Coercion
Written by DR. ALEX GOUREVITCH Among the Solonic reforms that made Athens democratic was the abolition of debt-bondage. In his history of Rome, Livy wrote that the Lex Poetelia of 326 BC,...
Export Trade Performance of Indian Economy during and Following the Global Financial Crisis
Written by DR. SUMANJEET SINGH Friday, 14 October 2011 17:51 Introduction The global financial crisis which was actually triggered by the US sub-prime mortgage market in early 2007, started to...
In the Eurozone, Indecision is Final
Written by DANIEL MASON Wednesday, 05 October 2011 16:53 The FT Deutschland this week reported that Greek Prime Minister George Papandreou was considering resignation. According to one source he feels powerless, because...
Will High Economic Growth Ever Return?
By DEAN CARROLL | 30.06.2011 This week, China made clear its intention to buy up government debt in Europe. The country's $3 trillion currency reserves, the largest in the world,...
Bourgeois “Strategising”: Interest Rates, Inflation and Profits
By VASSILIS K. FOUSKAS | 08.05.2011 On speculation that the European Central Bank (ECB) would raise its interest rate, the Euro began rising to a 15-month high against the dollar....
Is Aid the Capital Component Making Countries Efficient? A Non-Parametric Production Theory Approach
BY ANN VEIDERPASS and PER-AKE ANDERSSON | 12.04.2011 Introduction This study attempts to add a piece to the aid effectiveness puzzle by presenting an alternative to the common growth regression approach....
The Light at the End of the Tunnel: The South-South Locomotive
By Dr. Can Erbil | 22.03.2011 South-South Trade In the aftermath of the global financial crisis, trade between developing countries (South-South trade[1]) has become more vital and more vibrant than ever....
‘Made in America’ is not the way out of this crisis
By Jagdish Bhagwati | 10 August 2010 President Barack Obama, addressing car workers recently at a GM plant in Michigan, defended his administration's motor industry bail-out, saying that it had rescued...