Finance and Economy

“How is all of this going to be paid for?” This difficult question has struck campaigns for the advancement of welfare since the 1970s, ever more frequently and intensely since the financial crisis of 2008 and resulting austerity measures that were put in place in our European liberal societies.

The ability of EU governments to follow a coordinated and unified approach to tackle the multiple crises which are hitting Europe is at the lowest level in the last 20 years

MEP Sven Giegold looks back at 2015 and some of the key Green political fights on the European scene. He sheds light on what he thinks will be the 2016 key battlefields for the Greens and for Europe to survive nationalisms and populisms.

An interview with Gerhard Schick.

Capitalism gives rise to an attitude that dehumanises us, because it turns us into competitive animals. We fail to realise that capitalism is an inherently exploitative system, where most of the power will always reside in the hands of the rich. But there is a way around this…

Throughout his time in the European Parliament, Philippe Lamberts has been campaigning and working towards a fairer and more human system of financial regulation for the EU. Nevertheless, it appears the financial orthodoxy is still calling the shots in Europe. With the new parliament term underway, he gives his assessment of the progress made so far, and the outlook for the future.

While providing valuable insights about the development of our economic system over time, Thomas Piketty’s work on capital suffers from a critical flaw: like so many economic frameworks, it ignores the limits of the finite resources of our planet – the fact that our ecological capital is rapidly running out. A new unit of measurement which takes this into account is urgently needed.

At first glance, sharing initiatives would appear to be important elements for building an economy based on solidarity and sustainability. Yet, these different models of sharing do not generate the same societal and financial return. Some of them, such as Uber, are forms of ‘sharewashing’. In fact, Uber’s business model, financed by Goldman Sachs, is at the polar opposite of sharing.

Negotiations over the Comprehensive Economic and Trade Agreement (CETA) and the Transatlantic Trade and Investment Partnership (TTIP) are being conducted as if they were private business deals. Trade policies, however, affect all of us and have implications for the global economy.

Considering the current attitude of the Turkish government which regards regulations as hurdles reducing economic growth, the recent Soma mining accident should not have come as a surprise. From both economic and ecological points of view, the Turkish economic growth trajectory is not sustainable and should be changed.