Article Category: Economics

Modern Monetary Theory and State Finances: A Recipe for Progress?

The central idea of MMT is that countries that issue their own currency are not financially constrained. This is because a government in control of its currency can simply ‘print’ new money to finance its spending. In today’s world, printing money does not mean opening up the printing presses, but rather is about creating money electronically at the click of a mouse. In its purest form, the central bank simply credits or increases the bank account of the government, which is then free to spend.

Economics    

The Consequences of a Bankrupt God

Theology turns out to have something significant to say to our young student and to society more widely. It can help us discover that there are ways to get at the injustice of an indebted society that predate Marx and his many descendants.

Debt Addicts

Debt creates an interdependent relationship between the creditor and the debtor, until the alienation of the latter from the former. Like an addiction, it can lead to alienation from one’s own body.

Do You Always Have to Pay Your Debts?

It is not only when debt is contracted that the ethical dimension is involved, it is throughout the repayment process. The debtor and the lender are not equal. It is not, as we say in economics, a zero sum game. The creditor expects his money to be profitable and to earn interest.

Editorial: Till Debt Us Do Part

Debt is where dreams go to die. We put aside ‘unnecessary’ things like our hopes of becoming an artist or musician. There are monthly repayments to be made, and so we need to work, and work, until (if we are fortunate) we can retire and enjoy a few years of glorious unproductivity before death.

In Evidence We Trust

As the community and voluntary sector is increasingly shaped by the need to constantly generate evidence of outcomes, practitioners can become attuned to the expectation of the “knowledge” which should be produced.

Debt Hurricane

Jubilee Caribbean (JCaribbean) is a newly formed non-governmental organisation, born out of the bigger Jubilee Campaigns from the turn of the millennium – Drop the Debt, Jubilee 2000 and Jubilee Debt Campaign – based in Grenada, but hoping to reach out to the wider English-speaking Caribbean islands. Due to our debt situation here, in the… Read more »

Ageing, Risk and Housing in Ireland

In the early 1990s, Professor Anthony Clare addressed a Dublin conference audience of some 300 people. It was an inspiring address and among the words that resonated were the following: “‘The elderly’ are not ‘them, out there’; ‘the elderly’ are us, writ large writ later.” Pithy and fundamentally true, it is a good starting point… Read more »

Risk and Surveillance Capitalism

People are notoriously bad at assessing risk – we instinctively overestimate the likelihood of very scary events and underestimate the likelihood of familiar hazards. When this is combined with the power of gradual change, we end up collectively accepting situations that we would never rationally choose. The motorcar is the classic example: if we could… Read more »

Economics    

Nudging Ourselves to Death

Speeding Towards a New City There’s an old quip attributed to Henry Ford that no one was looking for the car to be invented; they just wanted faster horses. Even that is not true. What city-dwellers in the late 1800s had a problem with was manure. One early urban planner predicted that the biological waste… Read more »