Political Economy

Political Economy

Identity and class

There is no truly universal experience of the world. It is deeply influenced by how we have been taught to orient ourselves in that world, which then predicts how we interact with it. Language is one such example. Monoglot English-speakers break their day down into time slots and scheduled intervals; […]

Political Economy

The growing debt crisis

Global debt is now becoming a major factor in the instability of the system of capitalism. Figures show that in the second quarter of 2018 global debt reached a new record, rising to $260,000 billion. Of this total, 61 per cent—$160 trillion—is private debt of the non-financial sector, while 23 […]

Political Economy

The political power of central banks

The dominant ideological story of central banks is that removing them from the control of governments depoliticised them and made them neutral, “scientific” actors in the economy. The argument goes that, as economics developed into a science, with the primary aim of keeping inflation low, making central banks independent allowed […]

Political Economy

The Rights of Man

Thomas Paine’s famous work Rights of Man was published in 1791. It was written as a reply to Reflections on the Revolution in France by the Anglo-Irish politician Edmund Burke. Burke’s book was an attack on the principles of the French Revolution, written by a representative of the ruling class […]