Tag: economics

Uncategorized1 Comment

Wealth Transfer

rrn69

The superrich wanted Great Wealth Transfer, by becoming philanthropist effectively means transfer of family wealth from the Baby Boomer generation to their children. Vanguard estimated that by 2030, around $10.6 trillion will have been transferred between generations in the United States, $.35 trillion in Europe, and $2.8 trillion in Asia. These are enormous figures, but globally, the private equity industry had $8.2 trillion of assets under management at the end of 2023. There is great wealth transfer happening every day that has contributed to this enormous accumulation of wealth: the monopolization of the economy.  Wealth transfer emerges from the pocketbooks … Continue reading Wealth Transfer

Uncategorized1 Comment

Central Banks could bring about price stability

rrn69

Shock Value tells the untold story of prices and price stabilisation in the United States, many foundational moments in American economic history – the establishment of paper money, wartime price controls, the rise of the modern Federal Reserve- occurred during financial panics as prices either inflated or deflated sharply. The government’s decisions in these moments, intended to control price fluctuations, have produced both lasting effects and some of the most contentious debates in the American’s history. Shock Values reveals how the American state and been shaped by a massive, ever-evolving effort to insulate its economy from the real and perceived … Continue reading Central Banks could bring about price stability

Books, Finance1 Comment

Growth & innovation allowed people to escape cycles of boom and bust

rrn69

Economic growth has freed billions from poverty in the past two decades and made our lives far healthier and longer, resulting in the unfettered pursuit of growth  defining economic life around the world. However, this prosperity has come at an enormous price: deepening inequalities, destabilizing technologies, environmental destruction and climate change. Daniel Susskind, economist, argues that too few people understand growth and many in our era of sluggish productivity, the worry is slowing growth – in the UK, Europe, China and elsewhere – and reversing this stagnation is the goal of every politician. Some eco-warriors think there’s too much of … Continue reading Growth & innovation allowed people to escape cycles of boom and bust

UncategorizedLeave a comment

Currency must be defended from democratic interference

rrn69

After the 2008 financial crisis, when the critical attention shifted from the economy to the most fundamental feature of all market economies, money, 2022, is turning out to be the year that puts the politics back into the monetary policy, with the impending fight for the next Conservative party leader between Rishi Sunak and Liz Truss, “to reduce the tax now or later”.  For over the last 30 years inflation was dormant despite the tremors of the tech crash and the global financial crisis, even the exceptional monetary policy implemented after 2008, failed to provoke any real political controversy. The … Continue reading Currency must be defended from democratic interference