With dpressed wages the question was, how can workers buy the products that capitalists produce when they had so little money in their pocket? The answer: credit.
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Economics
Simon Wren-Lewis: Lessons from the Greek tragedy unlearnt
Inside the Eurozone the creditors have too much power, because they can threaten to cut off money to a member’s banking system or throw you out of the club. The Eurozone has not learnt this […]
Economics
Bill Mitchell: The last week in Britain demonstrates key MMT propositions
There are all sorts of characters out there who seek out the flimiest reason to denigrate MMT. They usually posit a fictional version of MMT and compare it to the real world saying ‘see MMT […]
Climate Crisis
Unearthed: UK oil and gas emissions intensity rises to record high
After years of cutting emissions per barrel of oil extracted, UK drillers saw carbon intensity rise by 15% in 2021 Read here Cormorant Oil Field in the North Sea. Photo: Marten van Dijl / Greenpeace
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