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Popes, presidents, and markets

“I used to think that if there was reincarnation, I wanted to come back as the president or the pope... But now I would like to come back as the bond market. You can intimidate everybody”, said the US political operator James Carville. Under capitalism, capitalists as well as workers are dominated by “the markets”, an entity constructed by humans but which then dominates us. Falling unemployment, for example, is regularly reported as “bad news for markets”.
James Carville Frederick Engels Erfurt Programme Critique Of The Gotha Programme Pierre Joseph Proudhon Gotha Programme

Popes, presidents, and markets

“I used to think that if there was reincarnation, I wanted to come back as the president or the pope... But now I would like to come back as the bond market. You can intimidate everybody”, said the US political operator James Carville. Under capitalism, capitalists as well as workers are dominated by “the markets”, an entity constructed by humans but which then dominates us. Falling unemployment, for example, is regularly reported as “bad news for markets”.
Frederick Engels James Carville Critique Of The Gotha Programme Erfurt Programme Pierre Joseph Proudhon Gotha Programme

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How central banks should navigate the climate change crisis

​Nowhere is the compromise between their swadharma and new responsibilities due to climate change more evident than in monetary policy. The question we need to ask ourselves is: should already-burdened central banks jump into an arena outside their direct remit? Even if there is a tangential case for policy intervention - from the perspective of what climate change means for financial stability - how should central banks approach it?
New Delhi M Rajeshwar Rao Jerome Powell Karl Marx Critique Of The Gotha Programme Cost Financing For The Energy Transition

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