The very opportunely article by Gretchen Morgenson in The New York Times, sets rightfully the terms for the debate outlining just how much bringing fraud to light hold many perils including retribution and job loss for many whistleblowers On Sep. 1st the FT reported that: “A whistleblower rewarded for exposing accounting violations has taken the … More Why aren’t we paying the whistleblowers?
>>Haga click aquí para la versión en Castellano GDP QUESTIONED How to go beyond the gross domestic product? Pursuing an actual modern reflection of wealth means finding tools to move away from an excessively quantitative, restrictive and accounting outlook to assess the collective performance. Changing indicators of wealth while we amend our way of production … More The myth of GDP (1)
An HSBC subsidiary is in the news for helping wealthy clients to evade millions in taxes. So what else is new? Lots of big banks have been fined for corrupt practices in recent years. In the headlines last week: a Swiss-based private banking subsidiary of HSBC, one of the world’s biggest banks, has been found … More Financial crime is routine in some major banks
Key Benchmarks for Assessment There are a number of concepts about waste management which vary in their usage between countries or regions. Some of the most general, widely-used concepts include: 1. Waste Hierarchy: The waste hierarchy refers to the “3 Rs” reduce, reuse and recycle, which classify waste management strategies according to their desirability in … More The Art of Waste Management (2)
Pigou, the economist who wanted to tax the smog Founder of the Polluter Pays Principle, the English economist Arthur Cecil Pigou comes out of the shadows. British Petroleum assumed responsibility for the oil disaster occurred in April 21 2010 in the Gulf of Mexico. The explosion of the floating platform released tons of oil and … More The Art of Waste Management (1)
Food security in terms of the prevalence of undernourishment indicator is a measure of dietary energy deprivation. As a standalone indicator, the prevalence of undernourishment indicator is not able to capture the complexity and multidimensionality of food security, as defined by the 2009 Declaration of the World Summit on Food Security: “Food security exists when … More Measuring different dimensions of food security
First published Aug 16, 2009. Updated June 13, 2013 >> Haga clic aquí para la versión en castellano Alcohol and cigarette products are usually subject to high taxes. This occurs because the economic theory acknowledges that the price of these products does not reflect the true social cost of consumption. Thus, a Pigovian tax  … More Negative externalities and taxes: a contribution to the debate on “junk food”
Developments in Portugal and Spain, like those in Greece, are part of a much wider crisis of the European economy. The crisis in Europe spirals downwards. Political uncertainty over Greece now marches in lockstep with creeping financial failure in Spain. Credit rating agency Moody’s last May downgraded 16 Spanish banks in the belief that they … More Spanish fear
The G20 — the most powerful summit of world governments — meets tomorrow to discuss the global economic crisis, and who is sponsoring the meeting? Banks and corporations. No wonder the site of the meeting — the French city of Cannes — is completely locked down to any ordinary citizens, while banks and large corporate … More The corporate capture of governments
THE FUTURE OF MONEY (4/4) Proposed solutions to the financial crisis tend to involve more regulation and the break up or separation of banking activities, but these merely scratch the surface. The financial sector is not only too big; it embodies massive contradictions. In particular, the social role of finance makes it impossible for monetary … More The Need for Radical Change
THE FUTURE OF MONEY (3/4) Financialized capitalism rests on its capacity to create credit to lend to itself to inflate its speculative profits and financial assets. But financial asset inflation is always a pyramid scheme, whose value will collapse as soon as there are no new investors. Traditionally states had a concentration of financial power … More The Contradictions of Privatised Finance
THE FUTURE OF MONEY (2/4) The financial system is concerned with the issue and circulation of money. Within capitalism the purpose is to direct money to the most profitable use. Money is a peculiar phenomenon, real and not real so far. In essence it is a promise. Holding money is a claim on any resources, … More Public Foundations of the Financial System
THE FUTURE OF MONEY (1/4) The global economic crisis in progress has naked the contradictions of privatised finance. If taxpayers have to bolster the system when it fails, why should they not also have control over the supply and allocation of money in the first place? At the height of the financial crisis, the total … More Finance Is Not Private
THE AFRICAN GOVERNANCE CRISIS (4/4) After the analysis of decades of public sector reform in Africa with special focus on Ghana, one can draw the conclusion that the external support during the 1980ies has been vital, but to some degree harmful due to a “faulty diagnosis and prognosis” (1). The African public sector during that … More Do Reforms Inhibit or Support African Development?
THE AFRICAN GOVERNANCE CRISIS (3/4) The customary problems of public sector ineffectiveness due to erroneous reform movements – leading to a reduction instead of a reinforcement of the system – and the ongoing danger of corrupt public officials, give reason to speculate about more successful policies for the reinvention of the African public administration. In … More Rehabilitating the African Civil Service