Author Archives: Greg Tucker

Quantitative easing, inequality and Brexit

The Bank of England’s governor, Mark Carney, recently appeared in Liverpool to deliver a speech about the growing inequality in the United Kingdom – a problem brought into prominence by recent political events. In this speech, he blamed the Brexit … Continue reading

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Populism – “a growing sense of hostility”?

The economist Joseph Schumpeter writes in his critique of capitalism that the profit motive prompts self-interest and egotistical behaviour. The economics student assumes this to be what constitutes rationality – the assumption upon which nearly the entire discipline is based. … Continue reading

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A very brief (and probably wrong) criticism of Marxism

As the antithesis to free-market economic and political theorists, there has always existed the socialist. Sometimes depicted crudely as the ‘coffee shop conspirator’, the socialist often comes under fire for expressing views that contradict the prevailing capitalist market structure. Supporters … Continue reading

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DaDa! REvoLutiON!

Art and literature, in the Marxist’s eye, are reflections of the social institutions from which they originate. They offer a mediated understanding of the world in which they were written, and using them we can learn about how social forces … Continue reading

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Artificial intelligence – an economic dilemma?

The so-called “machinery question” continues to dominate the headlines, founded on fears that artificial intelligence – a technological development which enables human tasks to be automated – is advancing too rapidly. Newspaper articles, online blogs and academic studies foretell a … Continue reading

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‘To raise new questions, new possibilities, to regard old problems from a new angle, requires creative imagination and marks real advance in science.’ – Albert Einstein

There can be no doubt that Einstein’s breakthrough Theory of Relativity, one of the most significant scientific advances of our time, was conceived through his own creative processes. Indeed, Einstein himself held creativity and imagination in the highest regard, seeing … Continue reading

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Schumpeter’s economic problems

We learn about supply, demand and the price mechanism. We learn about the “invisible hand”, and how a market should work within the parameters of “perfect competition” – an unattainable ideal upon which most mainstream economic theories are based. But, … Continue reading

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Oil, tax and theft: the dubious economics behind ISIS

Islamic State as an economy Already labelled “the best funded terrorist organisation of all time”, ISIS has prospered so much financially that it can almost be thought of as an economy in its own right. Since its creation in 1999, … Continue reading

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