An article in the London daily Financial Times on 2 August raises profound questions about balance sheets and profit and loss statements used by investors to value the financial assets they buy. “In the UK in the past three decades,…
Tag: Financial Times
Fantasy profits
Profit – the difference between costs and revenue – is the engine driving capitalist economies. It determines dividend pay-outs and a high proportion of the market valuation of companies. They can’t survive without it. If there’s no profit, there’s no…
FT slams IMF neoliberalism critique
The Financial Times today slammed the IMF’s criticism of neoliberalism as “navel-gazing” that is out-of date and dangerous. “…neoliberalism has become the catch-all criticism of unthinking radicals who lack the skills of empirical argument,” the Financial Times said in a…
Top professor says you can’t take ideology out of economics
Any attempt to develop ideology-free economics will fail and pragmatism won’t help the profession, according to professor Allen J Scott of the University of California. “…all forms of economic knowledge, from complex formal models to simple empirical descriptions, are always…