by Hannah Rose
On the 1st January 2008, a young woman called Eva walked along the promenade in Reykjavik with her grandfather. The sun barely saw the day as the rain came lashing in. It was the day that banks across the world would crash as phenomenally as the waves which battered the Icelandic coastline.
by Rowan Gavin
As the farce of university bosses’ salaries has finally entered mainstream debate this year, I’ve often found myself wishing that the kind of people who are comfortable taking pay rises six times larger than their average member of staff, and who don’t see a problem in sitting on the committees that decide their salary, would just piss off out of our universities altogether. So when I read the FT’s interview* with Bolton Uni VC Prof George Holmes the other day, I’ll admit I was a little surprised to read his proposal for a method of achieving just that.
by Matilda Carter
When the right-wing press are not engaging in personal abuse and out of context smearing to discredit Labour’s new leader, they occasionally give their opinion on his policy. The most discussed by far is what has been, slightly unfairly, dubbed Corbynomics. The premise is simple: in recessionary times allow the Bank of England to print money to fund infrastructure projects essentially transferring money from the financial economy to the real economy. It may seem like a silly idea, but the Bank of England has engaged, since the financial crash, in a kind of Corbynomics by proxy: printing money to sure up bank balance sheets, making them more likely to lend and slowly, whilst transferring through several financial institutions, stimulate economic growth and liquidity. That’s called Quantitative Easing.
The biggest objection to Corbyn’s policy from the right-wing (other than laughable comparisons to Zimbabwe) is that by directly politicising monetary policy and creating money out of thin air to build infrastructure, inflation will rise. Mark Carney, the governor of the Bank of England, alongside former Shadow Chancellor Chris Leslie and former leadership candidate Yvette Cooper, have made a logical argument that inflation rises always hit the poorest hardest.Continue Reading