An excellent analysis: “Profit shifting by multinational corporations doesn’t distort Ireland’s balance of payments; it constitutes Ireland’s balance of payments.”
Read here
Brad Setser: Tax Avoidance and the Irish Balance of Payments
EU politics
Al Jazeera – Spain’s Sanchez drama: After toying with resignation, PM draws criticism
Spanish President Pedro Sanchez was never going to resign, the real question is whether this ploy will lead to any substantial reform of Spain’s judiciary, which remains largely unreconstructed since the Franco era. In ‘Al […]
Economics
Bill Mitchell: Elites using monetary policy to deal with paranoid fears that power might shift towards workers
What a world we live in where we are snowed with propaganda from the elites about how the only way forward is that we accept “pain” or “sacrifice” to prevent some inflationary catastrophe from accelerating […]
Climate Crisis
Bill Mitchell: The financial markets should be kept away from the climate crisis solution
The narrative that has emerged – that the financial CEOs with “trillions in assets” (all at COP26 because they could smell lucre) are a key to solving the climate challenge – is as ridiculous as […]
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