Daily Archives: June 15, 2015

Karl Polanyi, The Great Transformation and a new political economy

hose leafing through books on political economy, studying the theory and history of economics, 1944 is a pivotal year. Friedrich Hayek published his book The Road to Serfdom and John Maynard Keynes was in the midst of helping to establish the Bretton Woods system. Between the two of them, their economic theories and books helped shape the political and economic policies of the post-war period. However, in the wake of the 2008 financial crisis, there has been a call to find an alternative approach as neither Keynesian nor Hayekian solutions feel suitable for the post-crisis situation we find ourselves in.

There is another political economist whose work might offer a solution, or at least a different perspective. His name is Karl Polanyi (pictured below right) and his most famous work, The Great Transformation, was also published in 1944. The University of Warwick’s Professor Ben Clift, Professor Matthew Watson and Dr Christopher Holmes make the case for why George Osborne, Ed Balls, the members of the European Commission and you might all want to add the book to your reading lists.

via Karl Polanyi, The Great Transformation and a new political economy.

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Η γερμανική Bayer δωροδόκησε 800 Έλληνες γιατρούς | TVXS – TV Χωρίς Σύνορα

Μια μεγάλη υπόθεση δωροδοκίας 800 γιατρών αποκάλυψε η εισαγγελία διαφθοράς και ειδικότερα οι εισαγγελείς Αγγελική Τριανταφύλλου και Ιωάννη Σέβη, οι οποίοι διενήργησαν και την έρευνα. Πρωταγωνίστρια και σε αυτήν την υπόθεση διαφθοράς είναι μια γερμανική εταιρεία και ειδικότερα, σύμφωνα με τα Νέα, είναι η Bayer.

Όπως αναφέρει το δημοσίευμα, η δίωξη ασκήθηκε μετά από προκαταρκτική εξέταση που διενεργήθηκε με εντολή της εισαγγελέως κατά της Διαφθοράς Ελένης Ράϊκου μετά από καταγγελίες σύμφωνα με τις οποίες η Bayer Ελλάς με υπάλληλους της αλλά και με τη συνδρομή άλλων εταιριών δωροδοκούσε Έλληνες γιατρούς του ΕΣΥ προκειμένου να συνταγογραφούν τα δικά της σκευάσματα με αντάλλαγμα είτε χρηματικά ποσά είτε άλλου είδους δώρα, όπως ταξίδια κλπ.

via Η γερμανική Bayer δωροδόκησε 800 Έλληνες γιατρούς | TVXS – TV Χωρίς Σύνορα.

Taxpayer support for UK banks: FAQs – National Audit Office (NAO)

There were two types of support provided:

Provision of guarantees and other non-cash support. The main items under this heading are the Credit Guarantee Scheme, Special Liquidity Scheme and Asset Protection Scheme, as well as various other guarantees and indemnities provided to UK banks.

Provision of cash in the form of loans to the Financial Services Compensation Scheme and insolvent banks to support deposits, and the purchase of share capital in Royal Bank of Scotland and Lloyds Banking Group.

Peak support (£bn)

Guarantee commitments 1,029

Cash outlay 133

Total peak support 1,162

These figures set out our calculation of the total peak support provided to banks, including support that was made available but not used by a specific institution. They are calculated by adding all the support schemes together and removing overlaps.

The peak values have been taken from HM Treasury Annual Report and Accounts, Parliamentary supply estimates and NAO reports to Parliament. As each scheme and support facility was available at different times, the total peak support was not all available at a single point in time.

via Taxpayer support for UK banks: FAQs – National Audit Office (NAO).

▶ Greece: Varoufakis and Tsipras celebrate re-opening of state media – YouTube

▶ Greece: Varoufakis and Tsipras celebrate re-opening of state media – YouTube.