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#economics

63 posts53 participants4 posts today
Public
Emeritus Prof Christopher May

The Joseph Rowntree Foundation reckon that living standards (in monetary terms) in the UK will decline in the next five years, for a range of reasons (from mortgage payment to economic stagnation).

Given this is a continuation of a relatively long-term trend of faltering economic activity in the UK, alongside inequality & various crises (from housing to health), while some may want to lay this at Labour's door, its more to do with older economic miss-steps!

#economics

theguardian.com/uk-news/2025/m

The Guardian · All UK families ‘to be worse off by 2030’ as poor bear the brunt, new data warnsBy Toby Helm
Public
CBC British Columbia

Western Canadian business groups outline wish list ahead of federal election call
Business councils in B.C., Alberta, Saskatchewan and Manitoba jointly released a policy paper Friday titled 'Untapped Potential — Driving Canadian Prosperity Through Natural Resources.'
#business #politics #election #economics #BC #Alberta
cbc.ca/news/canada/calgary/wes

Continued thread
Public
unusual_whales

Both the United Kingdom and Germany have updated their travel advisories to warn citizens that holding a valid visa or ESTA authorization does not guarantee entry into the country.

Read more: t.co/yTCYSzTFU5

Unusual Whales - News · Germany and Britain have issued warnings about traveling to AmericaAs the U.S. ramps up immigration enforcement under President Donald Trump, both the United Kingdom and Germany have updated their travel advisories, cautioning citizens that a valid visa or ESTA authorization does not guarantee entry. The revised warnings follow multiple incidents in which European travelers were detained, denied entry, or even arrested before being deported. Among the latest cases, two German nationals were stopped at the southern border earlier this week. Germany’s Foreign M
#news#finance#economics
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M. Ní Sídach

A cooperative organization isn't a panacea. American cooperatives are filled with members who've compartmentalized coop method within their dominant paradigm of neoliberalism, short-sighted, self-seeking, self-serving, hyper-individualistic, class competitive and capable of predating upon their own.

REI Punished Unionized Workers in Berkeley by Holding Back Raises, Labor Board Alleges
#Culture #Politics #Coop #Economics #Cooperative #EconomicJustice
kqed.org/news/12032259/rei-pun

KQED · REI Punished Unionized Workers in Berkeley by Holding Back Raises, Labor Board AllegesBy Farida Jhabvala Romero
Public
Bread and Circuses

This is dark. It’s not an easy read. I do not recommend it for those who suffer from crippling climate anxiety, or who are prone to being depressed by learning about the abject state of today’s politics and economics.

That said, if you’re ready for a clear-eyed look at how bad things really are now — and how bad the people who run things truly are — then I suggest reading the full linked essay.

Here are a few excerpts...
___________________________

The rich keep getting richer. That much is clear. But what’s often left unsaid is how they’re doing it — not just through the usual exploitation, but by actively steering the world toward catastrophe while shielding themselves from the fallout.

Let’s cut through the noise: the ultra-wealthy are not just accumulating wealth; they are hoarding it, stockpiling fortunes at a rate so obscene it makes the concept of money itself feel ridiculous. While the rest of us get lectured on cutting back — drive less, eat less meat, recycle, make do with less — they are securing their bunkers, buying up remote islands, and building escape plans for the very collapse they are accelerating.

And make no mistake, collapse is not just some distant dystopian fantasy. We are already deep into a polycrisis — climate change, biodiversity loss, resource overshoot, economic instability, and authoritarian creep all feeding into one another like an unstoppable chain reaction. Meanwhile, banks and corporations, who could be funding solutions, are instead dragging their feet or outright obstructing progress, ensuring the system remains tilted in favor of those who already have everything.

If the world’s biggest banks truly cared about avoiding collapse, they’d be moving mountains right now to fund large-scale climate infrastructure. But they’re not.

And that’s not a mistake — it’s a choice.

They have run the numbers. They know full well that unchecked climate change will devastate the poorest and most vulnerable long before it affects the ultra-wealthy. So, from their perspective, dragging their feet isn’t just about short-term profits — it’s about preserving a system that ensures their continued dominance, even as the world burns.

Meanwhile, the rest of us are left watching as climate disasters pile up — floods swallowing cities, heatwaves killing thousands, wildfires turning landscapes to ash — while the financial elite sit back and continue cashing in.

At this point, it’s not just negligence. It’s premeditated collapse.
. . .

If you’ve made it this far, you already know the truth: this isn’t capitalism failing. It’s capitalism succeeding exactly as intended.

The rich are not scrambling to prevent collapse. They welcome it — because they know they’ll be the only ones left standing. While the rest of us are told to “sacrifice” and “tighten our belts,” billionaires are building bunkers, buying private islands, and hoarding resources for the dystopia they see coming.

And why shouldn’t they? They built this system to ensure that, when it all falls apart, they’d be untouchable.

Because their goal is not to fix the system. Their goal is to extract as much as possible, as fast as possible, before everything comes crashing down.
___________________________

FULL ESSAY -- archive.ph/Z9XYn
ALTERNATE LINK -- medium.com/edge-of-collapse/th

Headline from linked essay says: "The rich are hoarding wealth –because they know what's coming. Collapse is baked into their business plans." Below this is a photo of a bald middle-aged white man in a shirt and tie sitting at a desk and glaring at someone as he gathers large stacks of cash for himself.
#Politics#Economics#Science
Public
Emeritus Prof Christopher May

If you're one of those people who think the gold price is inversely proportional to the stability of the global economy - in other words a high gold price is a leading indicator for an approaching crisis - then the news that gold rose above $3,000 per troy ounce this week, will likely already have convinced you there may be trouble ahead....

#gold#crisis#economics
Continued thread
Public
Bread and Circuses

🧵 3/3

Geoffrey Deihl (@gdeihl) is a tireless writer on the subjects of authoritarian politics, ecological overshoot, and real-world solutions for navigating through the treacherous times we face.

In the essay I'm highlighting here, Geoff provides an excellent summary of the vital need for change *and* the deadly risk of complacency, along with an inspiring blueprint for the kind of healthy, sustainable society we might build...
__________________________________

The Five Fundamentals of Degrowth

1. Abandon GDP (gross domestic product) as a measure of progress.

2. Scale down throughput and eliminate waste.

3. Shorten the work week to reduce our carbon footprint.

4. Expand social services to support good lives without high levels of income.

5. Redistribute wealth.
__________________________________

LEARN MORE ➡️ geoffreydeihl.substack.com/p/d

Sane Thoughts for Insane Times · Degrowth: Sanity in Spiraling ChaosBy Geoffrey Deihl
#Economics#Science#Environment
Continued thread
Public
Bread and Circuses

🧵 2/3

Degrowth.net is an informative and easy to read resource for learning the basics of what we need to do, why we need to do it, and what we might achieve if we have the courage to try.

On the page I'm highlighting here, they cover the values and principles underlying the degrowth movement, core ideas leading toward a sustainable and equitable future.

Here is how they describe it...
____________________________

Values in the context of degrowth are the deep-seated beliefs and ideals that motivate the movement's vision for society. They represent the ethical foundation upon which the degrowth philosophy is built.

Principles of degrowth are the actionable guidelines derived from its values. They offer a framework for making decisions and formulating strategies aimed at achieving the degrowth vision.
____________________________

LEARN MORE ➡️ explore.degrowth.net/degrowth/

Part 3 will follow soon.

Nine "Principles of Degrowth" are described, with cartoon symbols for each of them. The principles are sustainability, circularity, cooperation, useful production, sharing, local production, work-life balance, relational goods, and joie de vivre.
#Economics#Science#Environment
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Bread and Circuses

Here we are. It's DegrowThursday again. 💚

Every week on this day I turn my focus toward the most important topic of all. Because if we are to have any hope of maintaining some semblance of a healthy human society going forward, our world must quickly and decisively commit to #degrowth.

We're talking real solutions here! Real answers to the many systemic problems that plague us and threaten our very extinction.

Now, I know unlikely it is that these solutions will be adopted by our present leadership. And I know how challenging they will be to achieve. I'm under no illusion that any of this will be easy.

But — if we don't know where we want to go, we'll never get there.

So today, I'll provide two resources for learning about degrowth. The first is simpler and more basic, while also offering a more hopeful and positive outlook. The second is a darker vision, presenting additional detail about the daunting challenges we face and the many hard steps that lie ahead of us. I hope you'll read both, or I hope you'll read at least one of them.

That's my intro. 🧵1/3 The next two parts will follow soon...

An illustration of a man with angry eyebrows in a business suit who carries a briefcase as he runs upward on a grid-patterned slope... and a happy man in shorts and a green tee shirt running down into a garden on the other side.
#Economics#Science#Environment
Public
Emeritus Prof Christopher May

Given Rachel Reeves dependence on Office of Budget Responsibility's forecasts for keeping to her fiscal rules, as Chris Giles (FT) notes we may soon see a crisis when the OBR finally admits its always optimistic projections for productivity growth just aren't being met & therefore will need to be revised (radically) downwards.... which will negatively impact projections for growth & tax receipts, further diminishing any projected fiscal 'headroom'.

A crisis foretold?

#economics#productivity
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Bread and Circuses

A book review that says: "The end of capitalism – or the end of civilization? The choice could be that stark."
____________________________________

Herrmann argues that there is no choice other than radical and seemingly unimaginable change if we are to survive in anything like a civilized condition: “There is no alternative for the industrialized countries. Either they end growth voluntarily, or the era of growth will end violently, when everything that forms the basis of our way of life has been destroyed.”

There is no doubt that unmitigated climate change and environmental degradation will transform our lives and the political systems that circumscribe them. By the time they do, it may be too late to do anything useful, other than keep a lid on social breakdown. It won’t necessarily be the end of the world, but it may be the end of any human civilization worthy of the name.
____________________________________

FULL REVIEW -- theconversation.com/the-end-of
GET THE BOOK -- bookshop.org/p/books/the-end-o

Front cover of the book. Title text says "The End of Capitalism: Why growth and climate protection are incompatible – and how we will live in the future"
#Books#Economics#Science
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