Forget influencing Presidents and Prime Ministers, European billionaires are funding local elections in the Georgian capital, Tbilisi. When the wealth of oligarchs so dwarves that of the people, it is relatively easy to seize control of the entire political establishment, aggressively pursuing financial interests while keeping the population distracted by identity politics. Tbilisi is a perfect microcosm demonstrating the dangers of what unlimited, uncontrolled capital can do to democracy.
Your car gets counted once when it is built, not when it is driven. Your clothes, your bicycle, your furniture, all get counted once when they are manufactured, and not again when they are worn, ridden, or sat on. But homes are counted twice in GDP, writes Dr Cameron Murray: Once when they are constructed, and again when they are occupied. If we are going to count housing in GDP, shouldn’t we count it just once?
As Brexit negotiations begin this week, economist Ann Pettifor contemplates the foreseen and unforeseen economic consequences of Britain’s departure from the EU, not only for the UK and rest of Europe, but the world.
Jim Mellon explains why we’re in the era of ‘misallocation of capital’, how America is dominating the tech and internet market and how the EU referendum could be just what Europe needs.
Martin Sandbu wrote ‘Europe’s Orphan: The Future of the Euro and the Politics of Debt.’ He attacks the current thinking of politicians.