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Finance & Debt

Watch: ‘Anti-economist’ Steve Keen on why economists can’t be trusted

Steve Keen, Professor of Economics at Kingston University London, is a long time critic of conventional economic thought, and is also developing an alternative dynamic approach to economic modelling. In this interview with Steven Sackur on BBC HardTalk, he tackles the prospect for a debt-deflation on the back of the enormous private debts accumulated globally.

Demonetisation is a permanent transfer of wealth from the poor to the rich

Shankar Gopalakrishnan writes: Demonetisation’s biggest impact will be on the distribution of resources within the economy, whatever happens to the economy as a whole. Demonetisation’s a giant vacuum, sucking up the resources of the weak and delivering them to the powerful, while acting like it’s doing the opposite. More importantly, this transfer will be permanent.

Heart of rural India has suffered a stroke: P. Sainath on the note ban

Acclaimed journalist P. Sainath reports from rural Maharashtra: The “Modi masterstroke”, a term contrived by assorted anchors and other clowns on television to hail an unbelievably stupid action, is spreading agony and misery in its wake across the countryside. If there’s been any stroke, it’s the one the heart of the rural economy has suffered.

Exposed: The global super court that rules the world

A parallel legal universe, open only to corporations and largely invisible to everyone else, helps executives convicted of crimes escape punishment. In this court, a nation that tries to prosecute a corrupt CEO or ban dangerous pollution can be sued for millions, even billions of dollars for ‘interfering with profits’. A investigative series from BuzzFeed.

Gail Tverberg: How Peak Oil was misunderstood

Instead of the scenario envisioned by many Peak Oilers, it’s likely that we will in the very near future hit a limit similar to the collapse scenarios that many early civilizations encountered when they hit resource limits. We don’t think about our situation as being similar, but we too are reaching decreasing resources per capita.

Oil price and economic growth get married

Kurt Cobb writes: It used to be that oil prices and economic growth were somewhat like distant cousins who disliked each other rather than a happily married couple always seen nuzzling together in public. Nowadays, as the oil price dips into the low $40 range again and global economic growth weakens simultaneously, we must re-evaluate.

Video & Report: More Confessions of an Economic Hitman

Twelve years ago, John Perkins published his best-seller, ‘Confessions of an Economic Hit Man’, where he described his career convincing heads of state to adopt economic policies that impoverished their countries and undermined democratic institutions to promote U.S.’ interests. This new book is an updated version, and details how those methods have evolved since then.

How our economic system is designed to promote greed, fear and selfishness

Rob O’Grady writes in ‘150-strong’: Aldous Huxley suggested that “Our present economic, social and international arrangements are based, in large measure, upon organized lovelessness,” and, on the evidence, it appears that he was right. Our current system, governed by the reconciling force of profit motive, is dominated by greed and fear – certainly not love! 

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