Heterodox
Theresa May has issued a long legal justification for UK participation in an attack on a sovereign state. This is so flawed as to be totally worthless. It specifically claims as customary international law practices which are rejected by a large majority of states and therefore cannot be customary international law. It is therefore secondary and of no consequence that the facts and interpretations the argument cites in this particular case are erroneous, but it so happens they are indeed...
Read More »George Eaton — Theresa May’s decision to take military action against Syria without a vote could cost her
As I explainedearlier this week, under the Royal Prerogative, the Prime Minister can approve any military action without a prior parliamentary vote or debate (as David Cameron did in Libya in 2011). On matters of war, Britain’s parliament is one of the weakest in the democratic world. But May’s decision is immensely politically contentious. Labour, the SNP, the Liberal Democrats and some Tory MPs are furious that she failed to consult parliament. Only 22 per cent of the British public,...
Read More »Raúl Ilargi Meijer — Austerity, Bloodletting and Incompetence
Punxsutawney Phil Hammond, the UK chancellor, presented his Budget yesterday and declared five more years of austerity for Britain. As was to be expected. One doesn’t even have to go into the details of the Budget to understand that it is a dead end street for both the country and for Theresa May’s Tory party.So why the persistent focus on austerity while it becomes clearer every day that it is suffocating the British economy? There are many answers to that. Sheer incompetence is a major...
Read More »Chris Dillow — Ducking questions about capitalism
Theresa May’s speech this morning was trailed as a defence of free market capitalism. If that’s what it was, it failed because she failed to answer the big questions.... Stumbling and MumblingDucking questions about capitalism Chris Dillow | Investors Chronicle
Read More »Trump’s Election Win Shows That The Bank Bailouts And Quantitative Easing Have Failed
To all who argued the financial world would’ve collapsed without the bailouts: The political world is collapsing now because of the bailouts — Emanuel Derman (@EmanuelDerman) June 25, 2016 The bigger picture of the early 21st century follows: Western nations experienced a massive blowout bubble of leverage, irrational exuberance, and Hayekian pseudo-money creation. Yet this money was not going to overwhelmingly productive causes. The real output of the Western world did not follow...
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