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Monday, 23 March 2009

Start the week and new capitalism

Really interesting piece on Start The Week on Radio 4.
Now, i'm no economist but for ages i've been likening the current epoch of financial capitalism to the 1970s crash because of the availability of capital. for me, the problem has been money that is too cheap and easily available.
Going back to my Marxist roots (in terms of historical materialism), we're hearing a lot about the end of free markets and a new age of regulated capitalism and state-intervention, mixed with a change in the mindset and ethos of capitalism. based on what has happened previously, it is likely that we will have an era of constrained markets and a more compassionate capitalism. then we'll get some free market proponents calling for freer markets, which they will get, and we'll get another crash, and then more regulated markets and the whole cycle goes again.
hmm, rambling.

also, the current thing about MPs' expenses will come to nothing BECAUSE the inquiry will look into outside earnings. The Tories will block any progress on this, Labour will block anything the other way. Very similar to Unions on one side, Ashcroft on the other

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