I’ve now made available a three-part piece on Adam Smith. It starts by considering his credentials as an egalitarian thinker whose embrace of the ‘invisible hand’ of the free-market was less complete than his deregulating champions at the Adam Smith Institute would claim. This reappraisal is based on a recent book by Professor Iain McLean […]
Tag: banking
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Banking Bonuses
I wrote a rather splenetic article for the Guardian Comment Is Free website last month. Subsequent events have, I guess, not really made me feel less angry!
I’m interested to see that the Real World Economics Review (an e-journal for heterodox economists) now has a blog. They already have some interesting contributions, and I hope fertile discussion will follow!
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Money and Credit in 2050
(This is a summary of an essay I wrote in 2000!) It still seems relevant. The full document is here (pdf 36.8kb). By 2050 money in its current form as non-specific value will have been replaced by credits for specific future goods and services. These credits will be traded in a sophisticated barter network. This […]
Banks are returning to profit. The new chief executive of the taxpayer-owned Royal Bank of Scotland complains that We sometimes feel as if commentators variously want us to go back to over-lending, to operate on a ‘not-for-profit’ basis, to never entertain a client and to offer employment conditions that deter the best and brightest. All […]