Every generation inherits not just the physical infrastructure of its predecessors but a set of assumptions about what is economically possible. In post-war Britain, those assumptions have shifted so dramatically that grandparents and grandchildren now inhabit entirely different economic universes while sharing the same national space.
Two forces are converging on the global economy. AI is driving the cost of cognition toward zero. Climate change is driving the cost of physical stability upward. Together, they dissolve the foundations of the market economy we inherited. In the emerging economy, what matters is access to resources and the capacity to manage risk.
We seem to have forgotten that Britain’s government, as the sole creator of the pound, doesn’t need to tax or borrow to fund its spending. It creates new money whenever it spends. Taxes don’t finance the government; instead, they create demand for the currency and manage inflation.
Half of us will hear these words at some point in our lives. Cancer has become the defining disease of our age… But we rarely ask why this particular pathology, unlimited cellular growth, has become our era’s signature affliction. The answer may lie in recognizing that we have organized our civilization around a similar principle: growth without limits has become our highest aspiration and our deepest pathology.
The Politics of “How Will We Pay For It?” In the polarized world of politics, a curious scene unfolds with metronomic regularity: a liberal policy proposal is made like universal healthcare, climate infrastructure or education expansion, only to be swiftly challenged by a familiar chorus: “How will we pay for it?” The question lands with…
The Church of the Invisible Hand invites you to witness economics as our modern religion. Its priests in Brooks Brothers suits preach market efficiency, while its deity, the Invisible Hand, demands sacrifice from the many and blesses the few. Like all successful faiths, it presents itself as truth rather than contested ideology.
Your share of the nation’s water system is worth over $100,000, while that designer watch costs just $10,000. Which will still have value in fifty years? Your luxury car depreciates instantly, but your stake in national parks appreciates annually. The wealthiest investors can’t match the returns your citizenship already provides.
Shortly before he passed away in 1989, John Hicks, a revered economist, reflected on the simplified model he had introduced in 1937 to interpret John Maynard Keynes’ magnum opus ‘General Theory’ which had been published the year before. Using a plain pair of intersecting curves, Hicks had distilled Keynes’s complex ideas into equations that gained…
This book is a sobering account of the systematic destruction of value caused by the networked economy under whose spell we have fallen so deeply. It is a powerfully argued, complex and, at times, over-elaborate description of how we first invented and then released a genie that is disrupting its way through the fabric of…
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