“Money is the oxygen on which the fire of global warming burns” Bill McKibben (Consider reading The Economy before you … More
Tag: finance
The Economy
“The sign of a healthy economy should be a drinkable river.” Li An Phoa We talk about “the economy” as … More
2: Using debt to drive growth
The implications of financialisation spread across the UK housing market and broader economy. The shift from productive activities to profit-driven financial practices has destabilized traditional banking, leading to increased dependence on consumer debt and profit extraction from wages, while contributing to stagnant productivity growth.
1: The power of banks to issue debt
What happens when flooding risks affecting UK housing end up impacting the financial system’s reliance on mortgages as a savings vehicle? Banks have the unique ability to create money through issuing debt, fundamentally transforming loans into financial assets with multiple ownership claims. This profit-driven model enables extensive capital generation, significantly impacting households and the broader economy.
How the insurance industry is financing fire
One of the first things I was introduced to in philosophy was the difference between deductive and inductive reasoning. Deductive … More
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