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Introduction In a similar vein to the previous chapter on unemployment, this chapter and the next argue that there are problems and lacunae in Marx’s understanding of money and finance which a critical engagement with Keynes can help to address. This chapter again begins with Marx and assumes a degree of familiarity and sympathy with Marxist political economy in general and Marx’s views on money in particular. Marx said profound things about money, some of which anticipate Keynes. But as de Brunhoff’s ( 1976 ) sympathetic and honest account acknowledges
3 Money Introduction In Wall Street: Money Never Sleeps, the banks have taken over Gekko’s job. I was shocked when I went back to this in 2010. In Wall Street, Gekko had been the outsider, the inside trader guy, the thief, the blackmailer –and that’s what the banks do now. In the old days the banks would never have done that, it was considered immoral, but by 2010 the whole thing had shifted because of deregulation.1 By the time Wall Street: Money Never Sleeps hit cinemas in September 2010, banking, the financial markets and capitalism in general had all
T HE money allocated to defence is a critical element in a country’s ability to defend itself and field effective military forces. As with all policy areas, like health, education or social care, adequate resources are a prerequisite for satisfactory performance. In this case, however, headline figures for defence expenditure are also notoriously imprecise measures of military capability. Spending public money on defence is no guarantee that a country can deploy first-class armed forces. And since
This chapter describes how sub-Saharan Africans used airtime transfer to send cash to each other; the way in which this was noticed and used to create early, unsuccessful mobile money services; how the British aid agency DfID helped to finance M-Pesa; the unsuccessful, early roll-outs of mobile money in West Africa; how mobile money start-up Paga was launched in Nigeria; and the developing payment ecosystem. It concludes by looking at the future of mobile money and how industry ‘collision’ will play a part. Africa's mobile
9.1 Introduction The sterling money market located in London is a wholesale market for short-term funds and consequently provides facilities for economic units to adjust their cash position quickly. The rationale for its existence is that receipts of and payments in cash are not generally synchronised. Quite large cash balances are needed if
), which addresses the issue of money and its relationship to identity which characterised Dickens’s ghost stories. However, before discussing The Haunted Hotel it is important to examine some of Collins’s major writings of his heyday in the 1860s – The Woman in White (1860), No Name (1862), and Armadale (1866) – as they foreshadow his later representations of the ghostly. 2 Both The Woman in
It is crucial to acknowledge the major contribution that women writers made to the ghost story during the period. The selection of authors discussed here is necessarily limited but gives a representative flavour of how women writers engaged with the specific issues of love, money, and history. There is the danger that such a thematic approach simplifies the range of the female
3 Debt, land and money: from Polanyi to the new economic archaeology Michael Hudson Inspiration for The Great Transformation in the post-war monetary breakdown Karl Polanyi’s formative years in the aftermath of the First World War were a period of monetary turmoil. The United States became a creditor nation for the first time, and demanded payment of the war debts that Keynes warned were unpayable without wrecking Europe’s financial systems. (Hudson, [1972] 2003 summarizes this era.) France and Britain subjected Germany to unsustainably high reparation debts
6 Follow the money: who profits and how So far, this book has presented compelling new evidence that the promised land of housing regeneration from the outsourcing of repairs and management to private consortia in England under PFI has instead produced a dystopia of unsafe housing and destroyed lives. The countless examples of rising procurement costs and delays, botched work and poor services, and the accountability vacuum facing residents, have debunked PFI’s magic mantra of ‘risk transfer’, ‘payment by results’ and ‘value for money’. But, as I argued in
? Wherever I have advised on independence, money has come up – though, perhaps surprisingly, not as the first issue. It is probably easier not to think about the prosaic issues and focus on the romantic side of things in order to build momentum and gain backing. But the question of money cannot be ignored. It’s like everything else – you can’t have a champagne lifestyle on a beer budget. So, how does it