Michael Taylor looks at the evolving role of gold and how central banks have (mostly) learned that in the absence of the discipline of gold, their principal job is to protect the financial stability which alone confers value on scrip money.
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Arts and Culture
Ramadan Read more
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Arts and Culture
My Father, Ezra Pound Read more
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Arts and Culture
In the Medina Read more
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Letters
Newsletter Read more
Marx and modern microeconomics
Few economists doubt that Marx flunked economics, a judgement mostly based on his labour theory of value. But Marx’s representation of the power relationship between capital and labour in the firm is an essential insight for understanding and improving modern capitalism.
Crypto currencies don’t make sense
Cryptocurrencies are supposedly a new and superior form of money and investments – the way of the future. The author of this article, however, does not see the point of cryptocurrencies, finding them no better than existing fiat money or good investments.
Fox/Sky: here comes the crunch
Fox acquisition of the other 61% of Sky may ‘act against the public interest, reducing media plurality’. Yet Sky shares rose when the ruling was published. What is going on?
The State of the Market
The right balance between the role of the state and the market is key for susccesful development. In this video, Joseph Stiglitz explains why they should complement each other. This video was recorded at the UNU-WIDER 30th anniversary conference in Helsinki in September 2015.