Featured Finance Politics

Is capitalism the pinnacle of human achievement?

The great liberal economist John Kenneth Galbraith once famously said: “Under capitalism man exploits man. Under communism it’s the other way round.” As Clive Crook wrote in an obituary following Galbraith’s death in 2006: “ If he didn't say it, he might as well have. It has an authentically Galbraithian ring: It seems profound, and it's funny. .. And it is a travesty of the truth.” Let’s imagine for a second
News Politics

The Global North – Part 2

PART 2 OF A 2-PART REPORT ON THE SHAMBLES OF 21ST CENTURY GLOBAL ECONOMICS, WITH THIS ONE FOCUSING ON THE GLOBAL NORTH, (THE NEW NAME FOR THE DEVELOPED WORLD). THE 1st PART IS HERE, AT THE GLOBAL SOUTH Introduction It seems that Capitalism only works well when it works equally for everyone, which is hardly ever. While Socialism has existed in the past and gradually brought improvements over time, only the
News Politics

The Global South – Part 1

Introduction Economists love labelling things and the world is no exception. We used to have the 1st World/3rd World or Developed world, and Under-developed world but now it’s more trendy to call them the Global North (RICH) and the Global South (POOR) Think Africa, India, S. America some parts of Asia We are told that poverty and hunger are everyday life in the Global South while we never had it so