Tag Archives: Social Welfare
This week on Facebook: Last week in It’s only money! I quoted Peter Drucker, for those who may not be familiar with his works, and perhaps the younger millennials in particular, this week is devoted to my take on the man. On his death (aged 95) in 2005 he was described by a Bloomberg Business Week article as The Man Who Invented Management, I much prefer the subheading ‘Why Peter Drucker’s ideas still matter’. Read more of this post
This week on Facebook: Trying to use last weeks post on Criminals & Taxation as a link to those that may follow at some point proved to be very difficult, the reaction of a public administration’s response to economic failure is more akin to investigative journalism than a short, singular, post. So this week I focused a little bit on factors relating to Government economic policy, with particular reference to Social Security and taxation in the UK. My post last week last week illustrated some of the financial disasters that can occur when a public administration overreaches its level of competence. In an earlier post on Debt & Taxation (2013) I began: ‘The role that economic theory plays in the creation of money and the role played by all politicians in the manipulation of economic theory for the purpose of a fiscal policy, bear little relationship to the social responsibility that Drucker applied to a private enterprise.’ Read more of this post
This week on Facebook: The rise in value of cryptocurrency may be likened to an economic bubble but it is a bubble created as a result of government debts using fiat money. Last week I wrote about cryptocurrency bubbles and money and four weeks ago about the rising cryptocurrency, which led me to conclude that this is more than a speculative bubble. The rise of cryptocurrency is likely to have far reaching consequences regarding today’s governments and the money supply it attempts to control. Read more of this post
All that glisters is not gold… [The merchant of Venice — Act 2 Scene 7]
Finding an article that included a simple link to cryptocurrency in support of my linking sixteenth century Spanish bullion to modern mercantilism and the desire of a sovereign power to maintain authority over what is now its fiat money was difficult. I eventually concluded that I had write my own. Debasement of the currency is the inevitable result of abandoning a monetary standard¹ that limits the money supply (or commodity money), giving credence to Keynesian economics and Modern Monetary Theory (MMT)². Read more of this post
This week on Facebook: At one of my monthly pie and a pint meetings with a friend (who is also ex-colleague), experiences in our own families had made us both aware of the difficulty in finding some form of permanent or at least longer term re-employment. This led to the subject of zero hour contracts and my subsequent research into them. For a couple of retired ex-civil servants who remembered the post WWII boom in full employment, the realities confronting those seeking employment in today’s commercial climate were brought home (quite literally) to both of us. Read more of this post
This week on Facebook: My five reprises this week reflect the epigram Plus ça change, plus c’est la même chose. The epigram is probably familiar to most of my generation and needs no translation (Google it), but perhaps some of my family may read my reflections so it was a somewhat cynical remark that translates as, “The more things change, the more they stay the same”. Jean Baptiste Alphonse Karr (1808-1890) wrote this epigram in the January 1849 issue of Les Guêpes (“The Wasps”), the year following the European 1848 Revolutions. A number of broadsheets¹ at the time extolled or attacked the presidential candidates General Cavaignac and (most of them) Louis-Napoleon, both of whom Karr described as Les Guêpes.
This week on Facebook: Is prosperity and wealth the same thing I wonder. My conclusion is that it depends on how you define each word and who that definition applies to. Oxfam¹ thinks that $8-coffee-drinking millennials with student debt are amongst the world’s neediest and they are if you define wealth without taking into account its context. A millennial who indulges in an $8 cup of coffee may not be wealthy but is certainly prosperous.
The World Economic Forum is less attention grabbing in its report² but both reports highlight the potential of persistent long-term trends, such as inequality and deepening social and political polarisation. Trends that exacerbate risks associated with, for example, the weakness of the economic recovery and the speed of technological change. Read more of this post
This week on Facebook I posted some links on the National Health Service (NHS). By the 1980s if society was divided by notions of a welfare state all strata of society were united in giving the NHS the status of a sacred cow. Yet from the moment of its inception in 1948 by the newly elected post World War II Labour Government, the NHS was unaffordable as a free service. Aneurin Bevan who, as the minister of health, was responsible for establishing an NHS that included free diagnosis and treatment for all, resigned from the government in 1951 as a protest against the introduction of prescription charges for dental care and spectacles. Read more of this post
This week on Facebook I admit to having been duped by a charity. In a fanfare of publicity the charity named The Kids Company, a Ms Camila Batmanghelidjh and, as it turned out, my own government — although there’s nothing new in that — squandered money on anything but charity. It never was The Kid’s Company and it was only the exposé of this charity that focused my attention on the work of charities in the UK. Read more of this post
This week on Facebook I posted six abstracts taken from a 1968 paper by T. E. Utley with the title What Laws May Cure. Some Eighteen years later, in 1986, Justice Scalia was appointed to the Supreme Court of The United States. Both men held morality central to their tenet and were both pragmatic conservatives, but whereas the former was concerned with politics formulating the law, the latter was concerned with the law dispensing justice. Discovering Justice Scalia’s views on morality and the law seems an apt moment to reintroduce the views of T.E. Utley¹.
Laws may be capable of doing little good, but we have learnt that they are powerful engines of evil, of consequences which their authors never intended or foresaw but which press hardly and deeply into the lives of ordinary people. T. E. Utley – What Laws May Cure Read more of this post
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