Neoliberal v Neoclassical economics – what’s the difference?

Neoliberalism and neoclassical economics are often terms that are used interchangeably by various economists and financial writers, but actually, there are important differences between the two. We’ve had some requests from readers to make that distinction more obvious, so Claire Connelly has summarised what you need to know.

Vero backlash & the hypocrisy of foreign influence

It took less than 48 hours for Vero to enter the public consciousness before questions were raised about its legitimacy, coming under fire for being owned by a Lebanese billionaire. Because apparently, anything developed outside of the United States is the equivalent to signing up to the axis of evil.

A war criminal in the White House

Kissinger is estimated to be responsible for at least four million deaths worldwide. During his legacy, he expanded US arms sales whilst conducting covert operations via the CIA. He sabotaged civil liberation movements, armed mercenaries and apartheid forces. So why is he a regular entry on Trump’s White House visitors list? Claire Connelly looks into the direction of future US foreign policy.

Things governments can and cannot afford

In the UK, the Tories have slashed NHS funding, public housing and social care, policing, libraries, arts – even school dinners – on the grounds it was unaffordable. But it was comfortable spending £142 million per year subsidising the defence force (including the promotion of arms exports), and another £18 billion in corporate tax cuts for the private sector, and £120bn building a bloody great bridge to France.

Cracked and how not to run a media company

Cracked quietly laid off its entire video production team and most of its staff over the Christmas break, taking its core product with it, along with the writers, actors and personalities that made it famous in the first place. If it still expects to profit on margins, it’s in for a rude shock. Why would its key audience return to the site, knowing it has been stripped for its parts? These job losses are a cautionary tale for how not to run a media company. Its lessons apply as much to founders as investors.

The Royal Bank of Scotland & the largest theft anywhere, ever…

The Royal Bank of Scotland was bailed out to the tune of $45 billion – in return, the managers systematically ripped off their own customers and undermined the British economy. After hearing countless accounts in the House of Commons last week about how business owners were deliberately and systematically bankrupted and then left to, by its own words, “hang themselves”, the government announced its intention to do… well, nothing.

He died for our debts, not our sins

As we turn towards our faiths this Christmas and Hanukkah in an attempt to make sense of the year that was, economist Professor Michael Hudson says we have been interpreting the bible incorrectly. And he has written an entire book about it. Rather than sex and sin, both Christianity and Judaism is preoccupied with debt. As it turns out, Jesus was a socialist activist who paid the ultimate price, fighting for the reinstatement of regular debt jubilees. In fact, the rulers of classical antiquity who cancelled their subjects’ debts were overthrown with disturbing frequency and tended not to live that long…

Technology is not a supplement for social policy

Social problems cannot be hacked. The popularisation of ‘Hack Days’ is simply the privatisation of poverty. Technology will never be a supplement for good government. Around the world, elected leaders have abdicated their responsibility for their citizens to the private sector. The only thing worth hacking are parties themselves.

Hypocritical Number 10 only takes Yemen seriously to avoid a banking inquiry

Yesterday’s Parliamentary debate into RBS’ long-running scheme to bankrupt hundreds of business owners via its Global Restructuring Group was postponed after an “emergency debate” was called on the humanitarian crisis in Yemen. Sure, it’s selling arms to Saudi Arabia which is using those arms to murder, oppress and starve the Yemeni people, but there’s one surefire way to get the British Government to take foreign diplomacy seriously: threaten them with a banking inquiry. 

Serfs inside the machine: Why tech is unlikely to destroy capitalism

Former Greek finance minister, Yanis Varoufakis, claims capitalism is making itself obsolete thanks to the technologies it has produced. He argues that because companies like Google and Facebook are powered by social production, the private means of production are becoming obsolete. He says that Artificial Intelligence will be capitalism’s downfall.  If wishing made it so…

Australia’s final solution

For a government which claims to worship at the altar of agility, efficiency and the entrepreneurial spirit, Australia’s Prime Minister, Malcolm Turnbull, is letting a potential thriving workforce wither on the vine in detention. Why are we wasting so much human talent by not working with these resourceful, resilient victims whilst they await their fate? The ‘innovation nation’, the country of the fair go, has decided it could not possibly entertain a system of incarceration whose cruelty wasn’t entirely by design.

NATO itching for war with Russia

NATO wants Europe to upgrade its roads, bridges and rail networks. Not because of dilapidated infrastructure, or to make it easier for people to travel across the continent – let alone their own countries – but so they can handle the weight of its heavy tanks and military equipment for what it deems an inevitable invasion of Russia. Though it has yet to commit a single crime, up to 10,000 NATO troops have amassed on Russia’s border states, in lieu of a war that hasn’t happened yet.

Bean counters: Lost in Paradise

Long before the Paradise Papers, or the Panama Papers, the Enron scandal, Savings and Loan crisis, WorldCom, and the Global Financial Crisis, governments in the US, UK and Australia were colluding with the world’s biggest banks and their clients using aggressions dynamics not to defeat but to suborn the controls of the supposedly independent professionals: The accountants.

Irony: Russia probe makes case for campaign finance reform

Before we all start frothing at the mouth over the recent indictments by Robert Mueller over alleged US election interference by the Russians, let’s get a few things clear: We do not yet have any evidence of any collusion with the Russian government. What we do have evidence of however, is the overwhelming influence of foreign money in US politics.

Black lists matter: the betrayal of democratic liberalism

Democracy 2.0 is having its own modern-day McCarthy moment: Millionaire George Soros has published a blacklist of thousands of politicians, journalists, academics and celebrities ever to appear on Russian state broadcaster, RT, designed to intimidate anyone from ever appearing on the network which has already been defunded by NatWest, demonetised by social media giants that have rapidly become privately outsourced state regulators. This campaign of censorship and content control is proof of an establishment fast losing control of the narrative.

Who cares about a cough?

We cannot think of a more glaringly obvious metaphor for austerity than a conference stage set literally falling apart during the Prime Minister’s address. Forget the coughing, spluttering and plagiarism. Theresa May’s Conservative Party Conference speech was a live-action panic attack, and a giant metaphor for the slow death of neoliberalism. May is toast. A political zombie. Her days are numbered. And she knows it.

Why Greece took the fall for a European banking crisis

The Greek bailouts were a banking crisis in disguise. In an excerpt of her upcoming book, editor-in-chief, Claire Connelly, explores how Greece took the fall for decades of irresponsible lending by French and German banks. If Greece continues to participate in the European Union, democracy is doomed.