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Just like it did after the 2008 crash, capitalism needs a reboot telegraph.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from telegraph.co.uk Daily Mail and Mail on Sunday newspapers.
Mumbai: 12 BJP MLAs protest at the gate of the Assembly- Dinamani dinamani.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dinamani.com Daily Mail and Mail on Sunday newspapers.
कानुन निर्माणमा आयोगको उपादेयता gorkhapatraonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gorkhapatraonline.com Daily Mail and Mail on Sunday newspapers.
Capitalism is broken – we need the Government to fix it Contrived scarcity is putting home ownership out of reach for a rising share of young families Back in May 2019, Economic Agenda warned the Western world faced a new “gilded age”. That name derives, of course, from an 1873 Mark Twain novel – which satirised the greed and decadence of late 19th century America. Twain told of an era of monopolies, exploitation and corrupt links between political and business elites. His coruscating tale was, above all, a warning of what happens when capitalism ceases to work. For the super-rich, gilded America was about vast wealth, sprawling estates and grotesque opulence. Pretty much everyone else had to scratch out a living, suffering if not grinding poverty, then economic subservience and financial insecurity. ....
This article explains why attempting to achieve economic outcomes by managing interest rates fails. The basis of monetary interventionist theories ignores the discoveries of earlier free-market thinkers, particularly Say, Turgot and Böhm-Bawerk. It also ignores Gibson’s paradox, which demolishes the theory that managing interest rates controls price inflation. And incredulously, the whole basis of banking regulation assumes that commercial banks are just intermediaries between depositors and borrowers. That model of banking fails to address the simple fact that banks create credit out of thin air and that deposits are the property of the banks, and not their customers. ....