Abolish Savings? Are These Economists Bonkers?

Over the last couple of years I have come to the conclusion that economics, as it is taught and practised by most academics, is a load of nonsense. This article by Canadian professor Nick Rowe, in which he argues that “saving” should be abolished, is a classic example of taking an interesting idea and strangling…

I’m very harsh on economists in my book but here’s some good stuff from Bill Black at Naked Capitalism, proving that there are some diamonds amongst the dross.

:: For anyone who’s following the $15/hour minimum wage debate in the USA here’s an interesting article from an Australian academic published on Truthout.

Here’s some straight talking by Ross Ashcroft of The Renegade Economist about UK economic policy. He’s absolutely certain that the people in charge have no interest in energising the productive economy, preferring to feed the greed of what he calls the “rentiers” – people who extract money from from the system in whatever way they…

George Osborne appears to be having some success in boosting the housing market if this report in the Mail Online is to be believed. Why on earth anyone would want to claim the credit for inflating the price of houses when we haven’t yet recovered from an economic crisis that was caused in no small…

This short video from Positive Money explains why the rich get richer and the rest of us get deeper in debt. There’s a lot of stuff on their website that’s worth investigating if you’re interested in understanding how our economy got into such a mess.

Is George Responsible For Growth? Not Likely.

 Reports that UK GDP rose by 0.6% in the last quarter means that news outlets are full of articles heralding the end of recession and the start of recovery for the UK economy. Unsurprisingly members of the government have been milking this good news and taking as much credit as they can for having steered…