Fifty years ago, a US president closed the gold window, ended capital controls, and launched a new era of globalized finance. The “Nixon Shock” reshaped the international monetary system overnight, and then gradually changed the status of central bankers. Instead of acting as servants of the domestic economy, monetary policymakers have become masters of the globalized and financialized world economy. And this development bears directly on our ability to tackle the problems of climate change and biodiversity loss.
Heiner Flassbeck: The Interest Rate and the ECB – The European Central Bank will disgrace itself again and Germany is to blame this time too
The fact that the ECB now intends to raise interest rates in a situation where the economy is extremely fragile and even, as is currently the case in the EMU, threatens to plunge into a […]
Running cars on e-fuels, which have been touted as a way to prolong the life of the internal combustion engine, will not alleviate air pollution problems. Read here
It’s back! State owned companies. As neo-liberalism continually fails society (at least the 99%) the question is once again be raised: Was privatisation the solution or the problem? Britain’s Labour Party is banning the way […]