Who says that trickle down does not work?. For almost two years progressive economist have been hammering away that although governments have debts, they also have assets. Translated, you may have a mortgage of 100,000 euros (Heavens above, you are in debt!), but a house worth 500,000 euros (actually not so bad). While in many instances, public debt cannot be compared to private debt, in this one instance you can. If the British government purchases the railways, it may have debt, but it also has the railways. It took a while, but Aditya Chakrabortty has always been the intellectual avant garde among journalists. Other journalists will follow – and this fact will eventually reach voters. Hopefully before the general elections.
Economics
Nick Shaxson: Tax justice and the coronavirus
The Covid-19 Coronavirus pandemic is, at least on available evidence, striking rich western countries the hardest so far. Lower-income countries will be hit hard too, however: massive capital flight is already underway. And in all […]
Climate Crisis
DeSmog UK: Ireland’s Government Using Fake Data to Pretend Dairy Emissions Aren’t Rising Fast
Ireland’s Agriculture Minister, Michael Creed and his officials are mounting a co-ordinated campaign to mislead the Irish parliament (Dáil) about the true state of spiralling dairy emissions, DeSmog.uk has learned. Read here
Uncategorized
Ben Gummer: Coronavirus will change nothing
Ben Gummer, a former UK health secretary, now an Oxford history don, wrote a decade ago about the impact of the fourteenth century Black Death. The pandemic, however dreadful, will soon be forgotten by policymakers. […]
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