Posts written by Tony Weekes

Understanding Banks, Banking and Finance

I made a posting on 24 February (entitled The Movie “Inside Job”) which said that the version on a  UK compatible DVD would be released on 8 March.  It was not, in fact, available until earlier this month (June 2011). The earlier date refers to an offer from one retailer who would take prepublication orders at a [...]

The difficulty of responding to the wrong question …

I returned home this afternoon to find an e-mail with a question from a friend who is the director of an environmental NGO.  He wishes to respond to a “consultative paper” on whether Northern Ireland should be allowed to set its own rate of corporation tax. The standard argument – now firmly part of the [...]

“False analogies from an irrelevant accountancy…”

The following – which I came across while searching for something else – are selective quotes from an essay by J M Keynes entitled National Self-Sufficiency (1933). I recommend the whole article, which can be found at http://www.mtholyoke.edu/acad/intrel/interwar/keynes.htm. “The nineteenth century carried to extravagant lengths the criterion of what one can call for short ‘the [...]

Ethics and the Economist: What Climate Change Demands of Us

This is the title of a thoughtful paper by the American economist Julie Nelson.  It is available for free from the website of the Global Development and Environment Institute (GDAE) at Tufts University (Massachusetts): http://www.ase.tufts.edu/gdae/Pubs/wp/11-02EthicsandEconomists.pdf. It’s well written, but needs to be taken slowly.  More GDAE papers – including others from Julie Nelson – can be [...]

The ugly face of modern economics …

An article in last Saturday’s (28 May 2011) Irish Times newspaper No light at end of the tunnel for Greece means dark clouds on Ireland’s horizon presents a discussion of the economic problems of Greece – with some speculation as to what might be in store for the Irish Republic. The views attributed to the [...]

Rebalancing the economy …

A few days ago, I attended a presentation which took this as its title and theme. We were addressed by a senior politician from the UK government, and by civil servants charged with policy advice and implementation. It was truly appalling! ‘Economic growth’ driven by ‘inward investment’ would solve all the problems.  A bigger financial [...]

A comment on the interim report of the Independent Banking Commission (IBC)

The IBC issued an interim report on 11 April.  It is a disappointment for many of us who are hoping for a move away from a “casino financial industry” to what we need for the times we are in.  A short critical discussion in video format can be found at http://www.positivemoney.org.uk/2011/04/independent-commission-on-banking-reports-back/

Some lessons in economics …

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One of the points which we all must grasp is that “the economy” and “economics” – the ‘lens’ through which we judge success and failure – are, to a great extent, human constructions.  We have entrusted the development and maintenance of this lens (the more commonly used word is paradigm) to a group of people [...]

Critical responses to the 2011 Budget

A collection of critical responses to the British government’s 2011 budget can be found on the Ekklesia website at http://www.ekklesia.co.uk/Budget2011

The movie “Inside job” …

… concerns the origins and aftermath of present banking crisis as seen from an American perspective.  Surfing the internet shows that it is on release at cinemas in England, and the DVD is due for release in the UK on 8th March. The website www.sonyclassics.com/insidejob/ offers a description in more detail, and an eloquent reflection [...]