ANSELM ELDERGILL looks at the legality of the wars in the Middle East and the means used to fight them. It is said that truth is the first casualty of war, so what is the truth with regard to the legality of America’s and Israel’s wars in Iran, Palestine and Lebanon?
Rebuild Britain: for socially responsible public finance
Reviewing a new pamphlet, FAWZI IBRAHIM asserts the need for public expenditure in which private finance is strictly regulated and constrained, allowing the Bank of England to fund government expenditure without the risk of inflation
The Bank of England
Long before modern labour movements, England’s farmworkers fought back against their oppression – and for some, like Elizabeth Studham, the price was exile to Australia. MAT COWARD tells the story
As world leaders posture and local politicians bore, voters are left with a grim choice: despair, disengage — or start imagining something better, says MATT KERR
CARLOS MARTINEZ reports on China’s role in helping Cuba develop self-sufficiency in renewable energy, which would shield it from the sort of pain Donald Trump is inflicting with his oil blockade
JAYNE FISHER on why the government’s latest amendments to the Crime & Policing Bill, which returns to the Commons on Tuesday, is a serious threat to our freedoms
A surge in futures activity minutes before news of US–Iran talks has led to questions about insider trading and oversight gaps, writes CJ ATKINS
HOW a government funds its expenditure is a question that all countries face. It is not confined to capitalist economies. It applies to Cuba as well as to Britain and the US.
Government expenditure invariably exceeds its income whether by design as a result of investment decisions, or due to natural disasters or war. Governments with a sovereign currency (and Britain is such a country, unlike those who are inside the EU) can simply print money to fund expenditure. However, that will lead to inflationary pressures on prices, at least in the short term, as general demand for resources increases.
Traditionally, governments have borrowed money from the private financial market through the issuance of bonds. Money is thus taken away from private finance into the hands of the government to spend.
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