Tag Archives: taxation

Welfare on a Global Scale?


This week on Facebook: The 1948 Universal Declaration of Human Rights by the United Nations (UN) makes reference to social security and the economic, social and cultural rights of ‘the common people’¹. The UN’s writing of economic rights first is to my mind quite deliberate, in that without them any social and cultural rights look set to fall. However, finding a meaningful definition of economic and cultural rights has been difficult and resulted in my resorting to podcasts. While the podcasts have the titles ‘Economic Rights’ and Cultural Rights in the 20th Century, both lead to the question of human rights (4).

The European Union (EU) attaches great importance to the interdependence of all human rights and consider economic, social and cultural rights as part of a social welfare program that may well constrain the development of the EU (5). These issues also constrain the actions of the United Nations (UN) to a degree but are an essential part of any Group of 20 (G20) social welfare programmes, where the ratio of gross domestic product (GDP) to any social welfare programme that a G20 State has affects the forecast of future economic growth.

Read more of this post

The UK Welfare State


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 13 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; there are 800,000 more working age adults in poverty than in 1998/99; and high levels of family breakdown, educational failure, addiction and health inequality are having a severe impact on outcomes for both adults and children.” [sic] Read more of this post

Public Investment?


This week on Facebook: In 2008 I wrote an article about privatisation under a New Labour government, in which The Guardian newspaper figured prominently. Some eight years later I am still writing about the sale of pubic assets, with the media on the left now writing in support of a ‘Labour’ opposition party and highly critical regarding the sale of public assets. At least this time around The Guardian has been more honest, if still remaining somewhat circumspect↔ about the part that the New Labour Administration played in the sale and funding  of public assets (1). Read more of this post

Public Debt


This week on Facebook: As I posted in Cassandra on debt and as I had previously conclude in my 2013 post Crisis and Credit, the issue of public debt is used as an excuse for a fiscal policy of austerity measures, yet it is private debt that is behind the fiscal crisis. The State (particularly in the UK) does more to encourage private debt than to control it. Conversely the State continues with its fiscal policy of increasing public debt¹, something that I wrote about in Debt, the prolific mother (2012). Read more of this post

What is GDP?


This week on Facebook: I have remarked in my posts rather a lot on Global Inequality, that while there is a lot of media coverage given over to global inequality there is little indication that it has prompted any mass national desire for global equality. The populations of developed nations may well be aware of just how much they share with the other populations in the developed and developing word (at least in terms of a notional national wealth). My post on Global Inequality asks the question, “Just how equal do we want the world to be?”  The answers would suggest that the wrong question is being asked and that — perhaps — those with a large measure of a quality of life should be asked, “What are they prepared to give up?”. Read more of this post

The Money Tree


This week on Facebook: Most of those who believe in the existence of ‘A Money Tree’ and particularly those who choose to write about it (either from the political left or right), are not so naive as to believe that the State uses its fiscal policy wisely. The term money tree is used for political effect, yet regardless of political leanings most remain mute regarding the money that grows on it and where it comes from.

The issue of affordability never arises when the proposed spending relates to activities like going to war or bailing out the banks. There Is A Magic Money Tree

Countries like the UK that have their own central bank with which to create and borrow its own currency, claiming that deficit financing is part of a fiscal policy and not a problem as it is only incurred as an investment that is part of government economic policy. Those committed to the political left or right claim that their fiscal policy will encourage economic growth and resolve any deficit financing problem. The State has consistently failed to cover the costs for the future in its management of fiscal policy such that deficit financing always increases the national debt and fails in its social responsibilities.

To paraphrase Peter F. Drucker, it could he said that: The first responsibility of government is to cover the costs for the future. If this social responsibility is not met, no other social responsibility can be met. Peter F. Drucker, The Practice of Management

Read more of this post

Cassandra on World Debt


This week on Facebook: I am repeating myself here, in my 2011 post with the title ‘A Universal Debt!’ I recalled, “That someone looked into world indebtedness and facetiously drew the conclusion that The Earth must be in debt to the rest of The Universe. This was because every country in the world had an external debt load (barring about three). Obviously the earth is not in debt to someone else in the universe — unless you are a conspiracy theorist — but it is true that there is a global indebtedness.  What really matters, is not the debt, but the ability to pay off the debt with the interest that the debt accrues and the consequences of any inability to do this.” [sic]

All classes alike thus build their plans, the rich to spend more and save less, the poor to spend more and work less. John Maynard Keynes (1919)

For those of us living in the Western world global debt is something that the majority of its citizens do not take seriously as no end is foreseen to the ever increasing economic growth of the Western world. Today global debt is increased and the global citizenry has increased along with its indifference to deficit finance becoming the norm. Matt’s following cartoon repeats that joke, but as Yanis Varoufakis writes in his book ‘Adults In The Room’, politicians and their financiers are using world debt to ensnare us all in a global plutocracy.

Read more of this post

Cassandra on Money & Debt


Read more of this post

The New Silk Road


This week on Facebook: When I first read about The Great Firewall of China I concluded that it was a model that most States would try to find a way of emulating, the rationale being that it was the first step towards securing the political supremacy of a governing oligarchy under the pretext of a democracy. Now China has launched The New Silk Road¹ (OBOR: One Belt One Road) and notionally democratic governments find themselves not only having to consider a trade war with China, but to seriously consider China’s political model as representative of the future. Read more of this post

Cash is subversive (2)


The following is a brief extract from ‘Big Brother Loves You!’ by Detlev Schlichter in which he rails against fiat money and the creation of debt something that I touched on in A Universal Debt. Commenting on the trend towards interventionist policies and assertive state action, The Economist and the Financial Times talk of the trend towards ‘repression’ and ‘national capitalism’ in crisis management. The public believe that greedy bankers and ‘unfettered capitalism’ brought about this crisis. Yet cheap credit through state fiat money and the systematic subsidisation of the housing market, are not features of the free market but of politics. Read more of this post

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...

The Real Economy

Blogs and stuff from Ed Conway

Public Law for Everyone

Professor Mark Elliott

Bleda

Am I my Brothers keeper?

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...

The Real Economy

Blogs and stuff from Ed Conway

Public Law for Everyone

Professor Mark Elliott

Bleda

Am I my Brothers keeper?

%d bloggers like this: