Socialism for the Rich – Capitalism for Everyone Else

Few people question current arrangements for money issue, but allowing privately owned banks to create money is like putting a three year old in charge of a sweet shop. by Mark Braund Renegade Economist (July 27 2011) The wider public is depressingly disinterested in the workings of the economy; nowhere is this more evident than … Continue reading Socialism for the Rich – Capitalism for Everyone Else

Speculate, Accumulate and Derail the Economy

Speculative investment is held up as a cornerstone of modern capitalism, but given the way it screws up the economy, I'm surprised it's still legal. by Mark Braund Renegade Economist (July 20 2011) As a way of securing wealth without engaging in real economic activity - the act of combining land, labour and capital to … Continue reading Speculate, Accumulate and Derail the Economy

Land Rent – the Genesis of the British Class System

Land rent is one of several sources of unearned wealth that bestow privileges on a minority of citizens while biasing the economy against the interests of the majority. by Mark Braund Renegade Economist (July 13 2011) In classical economics, each of the three factors of production - land, labour and capital - earns a share … Continue reading Land Rent – the Genesis of the British Class System

The bipartisan con about the debt ceiling

by Dean Baker, Counterpunch Undernews (July 28 2011) At the beginning of 2008 the Congressional Budget Office, the country's most respected official forecasting agency, projected that the budget deficit in 2009 would be just 1.4 percent of GDP. The reason that the deficit exploded from 1.4 percent of GDP to 10.0 percent had nothing to … Continue reading The bipartisan con about the debt ceiling

We don’t discuss Unearned Wealth

A topic that gets virtually no coverage in mainstream economics is unearned wealth, yet it is both a cause and a symptom of our continuing economic malaise. by  Mark Braund Renegade Economist (July 06 2011) Some eminent thinkers have recently tried to conflate wealth with wellbeing, suggesting we should measure wealth not simply in economic … Continue reading We don’t discuss Unearned Wealth

Tax property, not people, for a fairer society

Levies on land values do not depress or distort wealth creation and are easy to assess, cheap to collect and hard to avoid by  Philip Inman The Guardian (May 02 2011) Amid all the talk of rebalancing the economy, there is little mention of the most powerful lever the government could pull to generate growth, … Continue reading Tax property, not people, for a fairer society