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Finance

The future of money

In a world where much commerce is conducted digitally and cash use is falling, the central banks are stuck in the past, supplying notes and coins while credit is controlled by the private retail banks. But that could soon change…

The economics of crisis

29 March 2020

Yes, there is an economic crisis as well as the health and social crisis. But the politics of despair will get us nowhere. Instead, workers need to get to grips with the financial issues involved.

Euro finance shock - more to come

26 March 2019

The EU’s financial weakness from earlier financial crises reappeared at the end of 2018 after the European Central Bank announced that growth would be lower than expected and inflation higher. That was a dress rehearsal for what is to come.

Gold: Barclays sells 'secret' vault

26 June 2016

The recent sale of the Barclays “secret” gold and precious metals vault, allegedly somewhere inside the M25, to the Chinese bank ICBC  highlights the murky role of British banking interests. 

Accounting for money in the Soviet Union

During Socialist transition some workers were in more mechanised workplaces than others, some less rationally organised or working with less up to date equipment etc. So the same product(s) produced from different locations could not at this time be directly exchanged with other products solely on the basis of the number of hours worked.

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