A typically indecisive Will Hutton article in The Observer (29.1.12) was headed ‘Hester’s pay discredits bonus culture’. Did Will Hutton think, despite the works of Bob Diamond, Fred the Shred and the rest, that the bonus culture still had credit up to the time when Stephen Hester was awarded his relatively modest bonus of around [...]
This book (http://www.gowerpublishing.com/isbn/9781409448303) is about a new direction for market capitalism, based on co-operation rather than the neoclassical idea of maximising self- interest. It is not argued from a moral or ethical standpoint, but has a hard-nosed foundation in economic theory. The Road leads from the predatory capitalism we suffer today to a co-operative and [...]
Mr Cameron really doesn’t understand what’s going on. When he talks of rebalancing the economy he appears not to have the faintest idea what has unbalanced it. He doesn’t understand the crucial difference between real markets and financial markets. Demand for real things is essentially finite – when you’ve had enough, you’ve had enough; [...]
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