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Tag Archives: in-english

The age of green money

Could the Covid-19 crisis accelerate the adoption of a new, more equitable and more sustainable development model? The answer is yes, but under certain conditions. There must be a clear change in priorities and a certain number of taboos in the monetary and fiscal sphere must be challenged. This sector must work to the benefit of the real economy and used to serve social and ecological goals. In the first instance, we must use this forced shutdown to re-start on a different footing. After...

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Avoiding the worst

Will the Covid-19 crisis precipitate the end of the financial and liberal globalisation of markets and the emergence of a new model of development which would be more equitable and more sustainable? It is possible but nothing is guaranteed. At this stage, the most urgent concern is primarily to grasp the extent of the current crisis and to do everything possible to avoid the worst, which is a full-scale hecatomb. Let me remind you of the forecasts in the epidemiological models. Without...

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Sanders to the aid of democracy in the United States

Let it be said at once: the treatment received by Bernie Sanders in the leading media in the United States and in Europe is unjust and dangerous. Everywhere on the main networks and the large daily papers we read that Sanders is an ‘extremist’ and that only a ‘centrist’ candidate like Biden could triumph over Trump. This biased and somewhat unscrupulous treatment is particularly regrettable when a closer examination of the facts actually suggests that only a full-scale reorientation of...

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Social-federalism vs national-liberalism

The United Kingdom officially left the European Union a few days ago. So now, make no mistake; along with the election of Trump in the United States in 2016 this is a major upheaval in the history of globalisation. The two countries which had the choice of ultra-liberalism with Reagan and Thatcher in the 1980s and which, since then, have witnessed the highest rise in inequalities, have decided three decades later to opt for nationalism and a form of return to frontiers and national...

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After the climate denial, the inequality denial

In the wake of the denial of global warming, now on the wane, at least superficially, are we at present witnessing the denial of the rise in inequality? This is obvious in the case of the French government where all the efforts undertaken since 2017 appear to be guided by the idea that the country is suffering from a surfeit of equality. Hence the tax rewards for the wealthiest when the government came into office; hence similarly its inability to understand the demand for justice...

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Several universal retirement schemes are possible

Could we possibly have a reasoned debate about the several alternative retirement schemes? To judge from the government’s attitude, one might well doubt it. The current government is endeavouring to restrict the discussion to the following schema: either you support my project (which remains extremely vague) or you are an old-time defender of the privileges of the past and refuse any change. The problem with this binary approach is that in reality there are many ways of constructing a...

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Surpassing identity conflict via economic justice

Europeans have long observed from a distance the mix of social and racial conflicts which structure political and electoral cleavages in the United States. Given the growing, and potentially destructive, importance taken by these identity conflicts in France and in Europe, they might do well to consider the lessons to be learned from foreign experiences. Let’s take a step backwards. After having been the party of slavery during the civil war from 1861-1865, in the 1930s the Democratic...

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Towards a circular economy

The idea of the circular economy frequently brings to mind issues of recycling waste and materials and making moderate use of natural resources. But if a new system is to emerge which is sustainable and equitable the whole economic model will have to be re-thought. With the differences in wealth which exist at the moment, no ecological ambition is possible.  Energy saving can only come from economic and social restraint and not from excessive fortunes and life-syles. We will have to...

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What is a fair pension system?

Even if the timing remains vague and the conditions uncertain, the government does seem to have decided to launch a vast reform of the retirement pensions system, with the key element being the unification of the rules applied at the moment in the various systems operating (civil servants, private sector employees, local authority employees, self-employed, special schemes, etc). Let’s make it clear: setting up a universal system is in itself an excellent thing, and a reform of this type is...

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Will money creation save us?

Before the 2007-2008 crisis the balance sheet of the European Central Bank (that is, the totality of securities owned and loans granted by the ECB) was approximately 1000 billion Euros, or barely 10% of the GDP of the Euro zone. In 2019 it had risen to 4700 billion Euros, or 40% of the GDP of the zone. Thus between 2008 and 2018, the ECB has implemented a monetary creation equivalent to over one and a half years of the French GDP, one year of German GDP, or 30% of the GDP of the Euro zone...

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