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Shifts in productive forces have imparted a qualitatively new character to the capitalist economy in the twenty-first century. 1 The changes in the nature of commodities and the market have been discussed above; in this chapter, we will focus on the changes in the monetary and financial spheres. We will discuss the problem of transformation of the money under capitalism, from the form of credit money, serving the circulation of commodity capital, to money reflecting the prevalence of virtual
5 All out of money 1976–77 There is a difference between being a charitable benefactor and host to a parasite. William Simon’s explanation of US policy towards Britain during the IMF crisis1 Introduction Allegedly suffering from the first stages of Alzheimer’s disease, Harold Wilson announced he would resign as prime minister in March 1976. As one close associate of the prime minister recalled, Wilson had simply ‘had enough’.2 A battle for the party leadership (and thus to become prime minster) ensued which the ‘champion of the moderates’ James Callaghan
and continued in neo-colonial relations with independent states that were formerly colonies. The sheer cultural diversity resulting from the legacies of colonialism, foreign policy pursuits of the former imperial states and the fallout of post-communism is a reminder of the variety of modes of living constructed across the spectrum of societies. Economies as relational: long-distance trade Like migration, economic relations are about movement. Inter-civilisational engagement constitutes economies as relational in the uneven and unequal spread of trade and money
public service, and the elimination of the love of money or the money motive. His most eloquent criticism of the latter was made in his “Economic Possibilities for Our Grandchildren,” delivered as a lecture to the Essay Society at Winchester College on 17 March 1928 and later published in 1930. The context for Keynes’ talk had to do with his trip to the Soviet Union in the summer of 1925, a visit that had caused him to reflect once again on the moral value of capitalism. The dilemma concerned the cost of economic progress that seemed to him to lead to the cultural
fifth resource is reputation. Here people may respond differently to an actor because they believe he has other resources (that he may not in fact have) or because they may predict his actions based on his (or others’ similarly situated) past behaviour. With the exception of information, none of these sets of resources explicitly mentions the many attributes of people that might be thought to be resources – money, charisma, a standing army – and so on. Any such list of physical attributes one could produce would almost certainly be incomplete, for many things might be
think the economy is built on being ripped off actually … The trickle-down effect of the economy; I’ve seen little cartoony videos of that. I’ve said ‘oh yes, definitely get that!’ And at the start of the recession they say ‘oh we’ll have to be in a recession because we can’t afford the national health system, but, hey, let’s throw a few billion pounds into the stock market so the rich don’t get poorer, and we’ll just take all the money from the poor and let them be poorer’. I do feel that has been done in the last few years, big time. Rosa is articulate and
– in other words, for phenomena of collective addiction. ‘Hitting the bottom’ refers to the constitutional moment when either a catastrophe begins or societal forces for change of such intensity are mobilised that the ‘inner constitution’ of the economy transforms under their pressure. Plain money reform is one of several examples that illustrate a
Any conclusion that undertakes to summarise the main ideas of a book must necessarily oversimplify. For the attentive reader, the conclusion is thus in a sense a redundant fragment. After more than forty years of reading and writing conclusions, we have therefore decided, in this conclusion, to concentrate on systematically outlining the new phenomena that are characteristic of the capitalism of the early twenty-first century as compared with that of the nineteenth, and on showing what our understanding of the nature of commodities, money, and
areas of training, supply of munitions, and funds. Nigeria and many foreign partners have held bilateral and multilateral meetings, and entered into some agreements over terrorism and terrorism-related issues, such as money laundering. For example, Nigeria, Cameroon, Chad, and Niger collectively established a multilateral relationship on counter-terrorism, with the establishment
RAF; her father had been a pilot who moved around and then ended up teaching flying on the edge of the city. She says: My parents were very much in the… still in the 1950s, I would say … Although we had a nice house my parents didn’t spend money, they’re certainly not frivolous people in any way, shape or form so everything was ‘make do’ … sort of, you mustn’t be a spendthrift, you need to be quite careful and sure … My father was talking about a pension when I was still at school. And we were given savings certificates when we were younger every birthday and