Category Archives: Economics

Covid-19 global consequences


This week on Facebook: Perhaps the worst consequence to the global pandemic introduced by Covid-19, is that  having spent all that inflationary money to combat the pandemic it ends not with a bang but with a whimper. The pandemic has produced, for the most part, common political solutions involving inflationary measures to boost their economies. As I remarked in my post last week (Global Covid-19), there will be a recovery from this pandemic (for some of us) leading to a global scramble for growth. This recovery will lead to the internal economic measures (a euphemism for austerity) and external beggar thy neighbour policies introduced by the pubic administration.

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Global Covid-19


This week on Facebook: Covid-19 is very much a global political and commercial pandemic and I am posting political and economic articles related to Covid-19¹², known globally as the coronavirus. My reprise posts on the fiscal crises that the world finds itself in post the introduction of fiat money in 1971 — the advent of global deficit financing and a global fiscal deficit are covered by this global pandemic.

A financial and economic crisis will tend to arise from a fiscal deficit if government debt levels contribute to a loss of market confidence in a national economy, reflected in turn in instability in currency and financial markets and stagnation in domestic output. A political and social crisis will tend to arise if both the fiscal deficit itself and the necessary corrective measure implemented to eliminate that deficit result in further losses of employment and output, falling living standards, and rising poverty. Britannica — Fiscal Crises

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UK Fiscal Incompetence!


This week on Facebook: If I appear obsessed with politicians and economics it because my online research has led me in that direction. Last week I posted the following from 2008:

This is yet another indication that this government cannot continue with its policy of welfare largesse. More significantly, we now have a national spend and debt repayment economy. Yet even here, the Government is using data manipulation to disguise the true size of the debt, while promising increased public expenditure. Welfare and Unemployment

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UK — Full Employment?


This week on Facebook: In England the Statute of Labourers was issued in 1351 after the Black Death had reached England. Full employment¹ was welcomed by those labourers left alive, often leading to increases in salary and freedom from serfdom for some.

And because many sound beggars do refuse to labour so long as they can live from begging alms, giving themselves up to idleness and sins, and, at times, to robbery and other crimes-let no one, under the aforesaid pain of imprisonment presume, under colour of piety or alms to give anything to such as can very well labour, or to cherish them in their sloth, so that thus they may be compelled to labour for the necessaries of life. Statute of Labourers (1351)

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Welfare UK Style


This week on Facebook: The UK 2010 State of the nation¹ reported on poverty, worklessness and welfare dependency in the UK that: “Over the past 10 years we have seen more and more money spent on the benefits system in an attempt to move people from below the 60% poverty threshold to above it. Expenditure on child-related benefits alone has almost doubled. Yet despite this expenditure, the figures in this document show that this approach is failing.

Income inequality is at its highest since records began; millions of people are simply parked on benefits with little hope of ever progressing into work. high levels of family breakdown, educational failure, addiction and health inequality are having a severe impact on outcomes for both adults and children.” [sic¹] Read more of this post

Are State subsidies eveyone’s burden?


This week on Facebook: The NHS¹ is no more guilty of holding the country to ransom than any of the ‘other’ subsidy that contribute to the government’s deficit financing policy. However, it does provide a simple answer to my question, “Are State subsidies everyones burden?”. For example I had occasion to attend A&E recently and had to wait until my local one opened its doors (it now closes during the night). My ‘accident and emergency’ was prompted by my dropping a drill on my foot. A&E offer a free service (in the sense no money changes hands), similar to freebies given by the nurse or doctor at the General Practice. My point is that neither is a ‘free’ service. Whatever the freebies provided, or time spent on the consultation — both influence fiscal policy. Read more of this post

USA & China


This week onFacebook: Heralds a new era in the balance of power, it now being a global issue rather than a European one. With the end of  WWII the United States and Russia wielded their economic hegemony in the West. This western world largely ignored the territorial advances of China. The Russian failure at European economic hegemony has now been replaced in the last forty-years by a resurgent China and the economic growth of oriental states. The balance of power that the USA and China¹·² now share is likely to lead to a conflict for economic and military dominance on an unprecedented global scale. Read more of this post

Aasof on democratic government


This week on Facebook: I thought that I might find an answer to why governments don’t behave democratically! The somewhat obvious answer I arrive at is the possession of wealth, but this is not the primary factor according to the Pew Research Centre. In a democracy, which I post a lot about, you would expect the democratic process involve the electorate who vote politicians into office and in one sense it does. However the electorate is made up of voters who each have their own (usually selfish) reasons¹ for voting in the way that they do. Whether they hold capitalist or socialist views², these selfish reasons are usually a share in (however small) political views³ guaranteed in any political system and access to the political power held.

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Aasof on the Elites


This week on Facebook: Perhaps the first question raised is, Who are the elites? They have always been a feature of all societies and have always been instrumental in suppressing the will of the people for a universal franchise¹. If Arrow’s impossibility theorem is correct in that it is generally impossible to assess the validity of a common good, then a social elite theory is also valid. But who are these elites² in a secular, urban and industrial modern society?

Although political science borrows heavily from the other social sciences, it is distinguished from them by its focus on power—defined as the ability of one political actor to get another actor to do what it wants—at the international, national, and local levels. Political Science

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Nuclear Energy a solution or a problem?


This week on Facebook: Following last week’s post on Hinkley C, prompted me to ask if nuclear energy was a solution or a problem? What is nuclear energy? Is the energy sources of a State separated from its political system? The supply of nuclear energy has led to contentions between the State and its energy suppliers, particularly those involving the cost of nuclear energy. The State relies on electricity for much of its commercial energy and even more so for its supply of domestic energy. Electricity is now a source of global energy for any developed and developing State, both domestically and commercially. Nuclear energy supply¹ and the storage of nuclear waste², already electoral issues in the western world, are increasingly global political issues. Read more of this post

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Martin Widlake's Yet Another Oracle Blog

Oracle performance, Oracle statistics and VLDBs

The Land Is Ours

a Landrights campaign for Britain

The Bulletin

This site was created for members and friends of My Telegraph blog site, but anyone is welcome to comment, and thereafter apply to become an author.

TCWG Short Stories

Join our monthly competition and share story ideas...

Public Law for Everyone

Professor Mark Elliott

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