Promoting the elite at the expense of the workers

Trade conflicts caused by governments promoting the interest of the elite at the expense of workers. Across the world, the rich have prospered while workers can no longer afford to buy what they produce have lost their jobs, or have been forced into higher levels of debt. The class wars of rising inequality are a…

Our Fragmented food culture

  Our food culture is fragmented, a mix of mass “ultra Processed” foods ( high in salt, sugar and fat)  the effect of Europeanisation  as pizza is children’s favourite food and wee also eat the world’s cuisines, as UK got wealthier, allowing aspirations and tastes to flower. Industrial and post-industrial societies have moved away from…

Self-employed rescue scheme

The Chancellor Rishi Sunak will today announce a package of support for Britain’s 5m self-employed people to help them through the coronavirus pandemic after Boris Johnson decreed they should have “parity of support” with employed counterparts. The self-employed would submit forms to HM Revenue & Customs, the tax authority, declaring their recent income, if there…

Fragile banks pose a greater threat to society than when they are dishonest

  In the great financial crisis of 2007-2008,  finance came too close to wrecking the global economy. The presence of rogue behaviour in finance, Nesvetallova and Palan turns to the economist Thorstein Veblen  (1857-1929) who observed that businessmen were proficient at making profit by interfering in markets, and wrote “ something in the nature of…

Economist’s influence

The modern liberalism since 1843, The Economist has been the single most devoted and influential champion of liberalism anywhere in the world. Today, neither economic crisis at home nor permanent warfare abroad, has dimmed the Economist’s belief in unfettered markets, limited government and a free hand for the West. The history of liberalism is on…

Saudi Aramco launches IPO to raise $60bn as Kingdom seek $2tn valuation

Saudi Aramco launched its public offering yesterday kicking off Crown Prince Mohammed bin Salman’s ambition to overhaul the kingdom’s oil addicted economy. The IPO, a landmark in Prince Mohammed’s drive on his pledge to modernise the kingdom, was tipped to be the world’s largest, hoping to raise in excess of $60bn with a sale of…

Jim Simons an enigma

Jim Simons who is worth $23bn is the greatest money maker in modern financial history, no other investor neither Warren Buffett, Rau Dalio, Steve Cohen, Peter Lynch, or George Soros can touch his record. Since 1988, Renaissance’s signature Medallion fund has generated average annual returns of 66 per cent and earned profits of over $100…